Bristol-Myers Squibb (NYSE:BMY) Releases FY 2024 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.400-0.700 for the period, compared to the consensus estimate of 0.650. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Price Performance

BMY opened at $44.85 on Friday. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. The business’s 50 day moving average price is $51.03 and its 200 day moving average price is $51.14. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating on the stock in a research report on Friday. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating on the stock in a research report on Friday. Societe Generale lowered Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a buy rating to a neutral rating and cut their price objective for the stock 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 assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.