Bristol-Myers Squibb Co (NYSE:BMY) announced a quarterly dividend on Thursday, June 14th, RTT News reports. Shareholders of record on Friday, July 6th will be paid a dividend of 0.40 per share by the biopharmaceutical company on Wednesday, August 1st. This represents a $1.60 annualized dividend and a yield of 2.98%.
Bristol-Myers Squibb has raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 53.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $3.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 44.0%.
Bristol-Myers Squibb traded up $0.17, hitting $53.63, during mid-day trading on Thursday, MarketBeat Ratings reports. 4,736,363 shares of the company’s stock traded hands, compared to its average volume of 8,432,290. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.52 and a quick ratio of 1.39. The company has a market capitalization of $86.83 billion, a P/E ratio of 17.82, a PEG ratio of 1.39 and a beta of 0.95. Bristol-Myers Squibb has a one year low of $49.96 and a one year high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.09. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.25 billion. Bristol-Myers Squibb had a return on equity of 37.56% and a net margin of 4.37%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. research analysts expect that Bristol-Myers Squibb will post 3.43 earnings per share for the current fiscal year.
In related news, Director Dinesh C. Paliwal bought 4,770 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were bought at an average cost of $52.40 per share, with a total value of $249,948.00. Following the completion of the transaction, the director now directly owns 8,027 shares of the company’s stock, valued at $420,614.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is owned by insiders.
BMY has been the topic of several recent analyst reports. Jefferies Financial Group set a $72.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, February 26th. Bank of America lifted their target price on Bristol-Myers Squibb from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, March 5th. Barclays cut their target price on Bristol-Myers Squibb from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, April 27th. ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. set a $75.00 price objective on Bristol-Myers Squibb and gave the stock an “overweight” rating in a research note on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $62.84.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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