Brokerages Anticipate Bristol-Myers Squibb Co (NYSE:BMY) Will Post Earnings of $1.05 Per Share

Analysts expect Bristol-Myers Squibb Co (NYSE:BMY) to announce $1.05 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bristol-Myers Squibb’s earnings, with the lowest EPS estimate coming in at $1.03 and the highest estimate coming in at $1.09. Bristol-Myers Squibb posted earnings of $1.09 per share during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The business is expected to issue its next earnings report on Thursday, October 24th.

On average, analysts expect that Bristol-Myers Squibb will report full year earnings of $4.26 per share for the current fiscal year, with EPS estimates ranging from $4.20 to $4.30. For the next fiscal year, analysts anticipate that the business will post earnings of $5.08 per share, with EPS estimates ranging from $4.45 to $5.90. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Bristol-Myers Squibb.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.06 by $0.12. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share.

BMY has been the subject of several research reports. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. UBS Group dropped their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $55.88.

Bristol-Myers Squibb stock opened at $48.17 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $77.63 billion, a PE ratio of 12.10, a P/E/G ratio of 2.35 and a beta of 0.73. Bristol-Myers Squibb has a 12 month low of $42.48 and a 12 month high of $63.69. The stock has a 50-day moving average price of $45.49 and a two-hundred day moving average price of $47.43.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.40%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.

In related news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares of the company’s stock, valued at $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Bristol-Myers Squibb by 1.2% in the second quarter. Vanguard Group Inc. now owns 134,058,636 shares of the biopharmaceutical company’s stock worth $6,079,559,000 after purchasing an additional 1,580,750 shares in the last quarter. BlackRock Inc. increased its holdings in Bristol-Myers Squibb by 6.7% in the second quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock worth $5,206,108,000 after purchasing an additional 7,178,698 shares in the last quarter. FMR LLC increased its holdings in Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after purchasing an additional 30,981,844 shares in the last quarter. Invesco Ltd. increased its holdings in Bristol-Myers Squibb by 40.4% in the second quarter. Invesco Ltd. now owns 24,012,686 shares of the biopharmaceutical company’s stock worth $1,088,974,000 after purchasing an additional 6,915,526 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Bristol-Myers Squibb by 67.6% in the second quarter. Renaissance Technologies LLC now owns 20,698,607 shares of the biopharmaceutical company’s stock worth $938,682,000 after purchasing an additional 8,347,432 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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