Zacks: Brokerages Expect Bristol-Myers Squibb Co (NYSE:BMY) Will Post Earnings of $1.47 Per Share

Equities research analysts expect Bristol-Myers Squibb Co (NYSE:BMY) to announce earnings of $1.47 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bristol-Myers Squibb’s earnings, with estimates ranging from $1.42 to $1.51. Bristol-Myers Squibb posted earnings per share of $1.18 in the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

On average, analysts expect that Bristol-Myers Squibb will report full year earnings of $6.14 per share for the current year, with EPS estimates ranging from $6.08 to $6.20. For the next year, analysts anticipate that the company will post earnings of $7.35 per share, with EPS estimates ranging from $7.28 to $7.40. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Bristol-Myers Squibb.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.23. Bristol-Myers Squibb had a return on equity of 30.06% and a net margin of 3.08%. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.04 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 82.1% compared to the same quarter last year.

Several brokerages recently weighed in on BMY. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a report on Thursday, April 16th. William Blair reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, May 15th. ValuEngine lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. Cfra boosted their price objective on Bristol-Myers Squibb from $69.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Barclays assumed coverage on Bristol-Myers Squibb in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $69.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Buy” and a consensus price target of $65.38.

In other news, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at $1,678,382.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John E. Elicker sold 15,805 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total value of $964,263.05. Following the transaction, the executive vice president now owns 58,666 shares of the company’s stock, valued at $3,579,212.66. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Anderson Fisher LLC raised its holdings in Bristol-Myers Squibb by 1.7% during the fourth quarter. Anderson Fisher LLC now owns 24,792 shares of the biopharmaceutical company’s stock worth $1,591,000 after purchasing an additional 417 shares in the last quarter. Earnest Partners LLC raised its holdings in Bristol-Myers Squibb by 45.4% during the fourth quarter. Earnest Partners LLC now owns 1,147 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 358 shares in the last quarter. Becker Capital Management Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $220,000. Benin Management CORP raised its holdings in Bristol-Myers Squibb by 35.4% during the fourth quarter. Benin Management CORP now owns 11,868 shares of the biopharmaceutical company’s stock worth $762,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Financial Counselors Inc. raised its holdings in Bristol-Myers Squibb by 9.0% during the fourth quarter. Financial Counselors Inc. now owns 168,235 shares of the biopharmaceutical company’s stock worth $10,799,000 after purchasing an additional 13,916 shares in the last quarter. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb stock traded down $0.35 during midday trading on Monday, hitting $60.79. The stock had a trading volume of 9,226,185 shares, compared to its average volume of 16,080,694. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The stock has a market cap of $138.34 billion, a P/E ratio of 75.05, a P/E/G ratio of 1.18 and a beta of 0.74. Bristol-Myers Squibb has a 12 month low of $42.48 and a 12 month high of $68.34. The business has a fifty day moving average price of $60.48 and a 200 day moving average price of $60.71.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, April 2nd. This represents a $1.80 annualized dividend and a dividend yield of 2.96%. Bristol-Myers Squibb’s dividend payout ratio is presently 38.38%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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