Bristol-Myers Squibb (NYSE:BMY) to Post Q1 2024 Earnings of $1.51 Per Share, William Blair Forecasts

Bristol-Myers Squibb (NYSE:BMY) – Analysts at William Blair decreased their Q1 2024 earnings estimates for shares of Bristol-Myers Squibb in a report issued on Wednesday, April 17th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of $1.51 for the quarter, down from their previous estimate of $1.64. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share.

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

BMY has been the subject of a number of other reports. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, 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. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $48.30 on Friday. The company has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $51.57. 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 firm has a market capitalization of $97.89 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93.

Bristol-Myers Squibb Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Herold Advisors Inc. raised its holdings in shares of Bristol-Myers Squibb by 3.2% in 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 during the last quarter. Kestra Private Wealth Services LLC raised its holdings in Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Metis Global Partners LLC raised its holdings in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after purchasing an additional 13,122 shares during the last quarter. Jmac Enterprises LLC raised its holdings in Bristol-Myers Squibb by 11.4% during the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Bristol-Myers Squibb by 0.5% during the 3rd quarter. Signaturefd LLC now owns 105,986 shares of the biopharmaceutical company’s stock worth $6,151,000 after purchasing an additional 564 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

About Bristol-Myers Squibb

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.