Bristol-Myers Squibb to Post Q3 2024 Earnings of $1.70 Per Share, Leerink Partnrs Forecasts (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Leerink Partnrs issued their Q3 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Wednesday, April 10th. Leerink Partnrs analyst D. Risinger forecasts that the biopharmaceutical company will earn $1.70 per share for the quarter. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $4.88 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.67 EPS, FY2024 earnings at $6.70 EPS, FY2025 earnings at $6.78 EPS, FY2026 earnings at $6.39 EPS, FY2027 earnings at $6.71 EPS and FY2028 earnings at $6.40 EPS.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Trading Down 1.7 %

NYSE:BMY opened at $48.28 on Friday. The company has a market cap of $97.85 billion, a P/E ratio of 12.51, a P/E/G ratio of 2.06 and a beta of 0.39. The stock’s fifty day moving average price is $51.28 and its two-hundred day moving average price is $51.84. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $28,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.97%. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.