SunTrust Banks Weighs in on Bristol-Myers Squibb Co’s Q3 2018 Earnings (BMY)

Bristol-Myers Squibb Co (NYSE:BMY) – Equities researchers at SunTrust Banks increased their Q3 2018 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report released on Wednesday, October 17th. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will post earnings per share of $0.93 for the quarter, up from their prior forecast of $0.86. SunTrust Banks has a “Buy” rating and a $67.00 price target on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $3.67 EPS and FY2019 earnings at $4.18 EPS.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year.

Several other research firms have also weighed in on BMY. Barclays upped their price objective on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, October 12th. Credit Suisse Group set a $61.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Sunday, October 14th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Friday, October 5th. ValuEngine lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Sunday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $63.13.

BMY stock opened at $54.30 on Friday. The company has a market cap of $96.27 billion, a PE ratio of 18.04, a PEG ratio of 1.58 and a beta of 0.98. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Bristol-Myers Squibb has a 52-week low of $49.96 and a 52-week high of $70.05.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is 53.16%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Bristol-Myers Squibb by 7.2% in the second quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock worth $6,193,296,000 after acquiring an additional 7,517,623 shares in the last quarter. Janus Henderson Group PLC grew its position in Bristol-Myers Squibb by 114.5% in the second quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock worth $383,119,000 after acquiring an additional 3,695,485 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Bristol-Myers Squibb by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,283,205 shares of the biopharmaceutical company’s stock worth $347,713,000 after acquiring an additional 172,417 shares in the last quarter. Bank of Montreal Can grew its position in Bristol-Myers Squibb by 13.9% in the third quarter. Bank of Montreal Can now owns 5,862,162 shares of the biopharmaceutical company’s stock worth $363,924,000 after acquiring an additional 717,503 shares in the last quarter. Finally, Swiss National Bank grew its position in Bristol-Myers Squibb by 2.7% in the second quarter. Swiss National Bank now owns 5,491,170 shares of the biopharmaceutical company’s stock worth $303,881,000 after acquiring an additional 146,500 shares in the last quarter. 72.32% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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