Q2 2024 EPS Estimates for Bristol-Myers Squibb Lowered by Zacks Research (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Zacks Research dropped their Q2 2024 earnings per share estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings of $1.77 per share for the quarter, down from their previous estimate of $1.83. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.71 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year.

BMY has been the topic of a number of other research reports. 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. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. 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. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of NYSE BMY opened at $48.86 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The stock has a market capitalization of $99.03 billion, a PE ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39. The business’s fifty day moving average price is $51.22 and its 200-day moving average price is $51.31.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $27,000. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $31,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 yield of 4.91%. 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.