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

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.60-0.90 for the period, compared to the consensus earnings per share estimate of $0.51. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.600-0.900 EPS.

Bristol-Myers Squibb Price Performance

BMY stock opened at $45.27 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.89. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock’s 50 day simple moving average is $41.63 and its 200 day simple moving average is $46.83.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.40. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. Research analysts expect that Bristol-Myers Squibb will post 0.53 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMY shares. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Cantor Fitzgerald reissued a neutral rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating on the stock in a report on Tuesday. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets reduced 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 note on Friday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $57.73.

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.