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

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Tuesday, April 23rd. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will earn $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.

Several other research analysts have also recently issued reports on BMY. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic cut 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 research report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, StockNews.com lowered 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 assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of NYSE:BMY opened at $48.86 on Thursday. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The stock has a market cap of $99.03 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The business’s 50 day moving average is $51.22 and its 200 day moving average is $51.31. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $11.19 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors have recently modified their holdings of the business. Riversedge Advisors LLC grew its position in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 178 shares during the period. Vicus Capital grew its position in shares of Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 179 shares during the period. Lindbrook Capital LLC grew its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 182 shares during the period. Addison Advisors LLC boosted its holdings in Bristol-Myers Squibb by 6.6% in the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 192 shares during the last quarter. Finally, Symphony Financial Ltd. Co. boosted its holdings in Bristol-Myers Squibb by 4.1% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 194 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.