FY2024 EPS Estimates for Bristol-Myers Squibb (NYSE:BMY) Reduced by William Blair

Bristol-Myers Squibb (NYSE:BMY) – Analysts at William Blair decreased their FY2024 earnings estimates for Bristol-Myers Squibb in a report issued on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $6.27 for the year, down from their prior estimate of $6.39. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.20 EPS.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Price Performance

BMY opened at $47.83 on Thursday. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.46 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $51.26 and a 200-day moving average price of $51.59. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93.

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

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. True Wealth Design LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $26,000. Milestone Investment Advisors LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth about $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $27,000. Finally, Coppell Advisory Solutions LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth about $28,000. 76.41% of the stock is 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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 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.