Bristol-Myers Squibb (NYSE:BMY) Releases FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMYGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.75-0.95 for the period, compared to the consensus EPS estimate of $0.70. The company issued revenue guidance of +5% yr/yr to $47.26 billion, compared to the consensus revenue estimate of $46.78 billion. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.750-0.950 EPS.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $54.70 on Thursday. The firm has a market capitalization of $110.88 billion, a PE ratio of -16.99, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $55.03. The business’s 50-day moving average price is $50.98 and its 200-day moving average price is $46.48.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMY. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets restated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. UBS Group increased their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $52.38.

Read Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Company Profile

(Get Free Report)

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.

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

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