Bristol-Myers Squibb (NYSE:BMY) Updates FY 2024 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.400-0.700 for the period, compared to the consensus earnings per share estimate of 0.650. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.40-0.70 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMY shares. Redburn Atlantic downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale downgraded Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. Finally, StockNews.com downgraded Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $61.18.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $48.86 on Thursday. The firm has a market capitalization of $99.03 billion, a P/E ratio of 12.66, a PEG ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The business has a fifty day moving average price of $51.22 and a 200-day moving average price of $51.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

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.