Q2 2024 Earnings Estimate for Bristol-Myers Squibb (NYSE:BMY) Issued By William Blair

Bristol-Myers Squibb (NYSE:BMYFree Report) – William Blair cut their Q2 2024 earnings per share estimates for Bristol-Myers Squibb in a report issued on Monday, April 1st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings of $1.74 per share for the quarter, down from their prior forecast of $1.78. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.61 per share. William Blair also issued estimates for Bristol-Myers Squibb’s Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $1.49 EPS, Q1 2025 earnings at $1.84 EPS, Q2 2025 earnings at $1.78 EPS, Q3 2025 earnings at $1.74 EPS and Q4 2025 earnings at $1.69 EPS.

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

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $61.12.

Read Our Latest Stock Report on BMY

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $52.75 on Wednesday. The firm has a market capitalization of $106.91 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The business’s 50 day simple moving average is $51.03 and its 200-day simple moving average is $52.25. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Bristol-Myers Squibb announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Herold Advisors Inc. lifted its position in Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 1,051 shares in the last quarter. Osterweis Capital Management Inc. raised its position in Bristol-Myers Squibb by 69.6% in the second quarter. Osterweis Capital Management Inc. now owns 5,049 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 2,072 shares during the period. Kestra Private Wealth Services LLC boosted its position in shares of Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after buying an additional 12,121 shares during the period. Metis Global Partners LLC grew its stake in shares of Bristol-Myers Squibb by 14.8% in the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after buying an additional 13,122 shares in the last quarter. Finally, Jmac Enterprises LLC raised its holdings in shares of Bristol-Myers Squibb by 11.4% during the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after buying an additional 1,245 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Company Profile

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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.

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Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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