Bristol-Myers Squibb (NYSE:BMY) Issues FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.40-0.70 for the period, compared to the consensus estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. StockNews.com lowered shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. Bank of America cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Finally, Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.15 during mid-day trading on Friday, hitting $44.85. The company’s stock had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a fifty-two week low of $44.34 and a fifty-two week high of $69.10. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. The stock has a fifty day moving average of $51.03 and a 200-day moving average of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.