Bristol-Myers Squibb (NYSE:BMY) Forecasted to Earn Q4 2024 Earnings of $1.66 Per Share

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair increased their Q4 2024 earnings per share estimates for shares of Bristol-Myers Squibb in a report released on Friday, July 26th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will earn $1.66 per share for the quarter, up from their previous forecast of $1.56. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.59 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2027 earnings at $7.68 EPS.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 11.52% and a negative net margin of 14.06%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS.

BMY has been the subject of several other reports. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday. Barclays downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. 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, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock opened at $49.04 on Monday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company has a market cap of $99.41 billion, a price-to-earnings ratio of -15.82, a PEG ratio of 17.25 and a beta of 0.44. The stock has a 50 day simple moving average of $42.00 and a 200-day simple moving average of $46.75. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.41.

Bristol-Myers Squibb Announces Dividend

The firm 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $27,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $34,000. Finally, MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.