Brokers Set Expectations for Bristol-Myers Squibb Co’s Q1 2018 Earnings (BMY)

Bristol-Myers Squibb Co (NYSE:BMY) – Equities research analysts at Leerink Swann issued their Q1 2018 earnings estimates for Bristol-Myers Squibb in a research note issued on Tuesday. Leerink Swann analyst S. Fernandez forecasts that the biopharmaceutical company will post earnings per share of $0.74 for the quarter. Leerink Swann currently has a “Positive” rating and a $76.00 price objective on the stock. Leerink Swann also issued estimates for Bristol-Myers Squibb’s Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.77 EPS and Q4 2018 earnings at $0.84 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 33.68%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 3.9% on a year-over-year basis.

A number of other brokerages have also weighed in on BMY. Credit Suisse Group restated a “hold” rating and set a $61.00 target price (up previously from $58.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Piper Jaffray Companies restated a “hold” rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Vetr lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 target price for the company. in a research report on Thursday. Finally, BMO Capital Markets dropped their target price on shares of Bristol-Myers Squibb from $52.00 to $51.00 and set an “underperform” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.58.

Bristol-Myers Squibb (NYSE:BMY) opened at $62.68 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. Bristol-Myers Squibb has a 12-month low of $51.52 and a 12-month high of $66.10. The firm has a market cap of $102,600.00, a price-to-earnings ratio of 106.10, a P/E/G ratio of 1.95 and a beta of 1.08.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Bristol-Myers Squibb by 0.3% in the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock valued at $6,611,829,000 after acquiring an additional 333,685 shares during the period. BlackRock Inc. raised its stake in shares of Bristol-Myers Squibb by 2.4% in the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after acquiring an additional 2,367,864 shares during the period. Dodge & Cox raised its stake in shares of Bristol-Myers Squibb by 1.6% in the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock valued at $1,648,168,000 after acquiring an additional 459,271 shares during the period. Jennison Associates LLC raised its stake in shares of Bristol-Myers Squibb by 16.2% in the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Bristol-Myers Squibb by 3.9% in the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock valued at $1,339,612,000 after acquiring an additional 910,496 shares during the period. 69.70% of the stock is currently owned by institutional investors and hedge funds.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $62.30 per share, with a total value of $249,200.00. Following the completion of the purchase, the director now directly owns 22,000 shares in the company, valued at $1,370,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the sale, the executive vice president now directly owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were paid a dividend of $0.40 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Bristol-Myers Squibb’s dividend payout ratio is presently 271.19%.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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