Bristol-Myers Squibb (NYSE:BMY) Announces Earnings Results

Bristol-Myers Squibb (NYSE:BMY) released its earnings results on Thursday. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13, Briefing.com reports. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of BMY stock opened at $44.86 on Friday. The stock’s 50 day simple moving average is $51.03 and its 200 day simple moving average is $51.18. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a market capitalization of $90.92 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMY. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.00.

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.