Bristol-Myers Squibb (NYSE:BMY) Posts Earnings Results, Beats Estimates By $0.13 EPS

Bristol-Myers Squibb (NYSE:BMY) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13, Briefing.com reports. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $44.85 on Friday. 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 business’s 50-day moving average price is $51.03 and its 200-day moving average price is $51.14. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10.

Bristol-Myers Squibb Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

About Bristol-Myers Squibb

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.