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

Bristol-Myers Squibb (NYSE:BMY) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $0.40-0.70 for the period, compared to the consensus earnings per share estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMY. Bank of America lowered Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $61.18.

Bristol-Myers Squibb Stock Down 0.3 %

NYSE BMY opened at $48.86 on Thursday. The stock has a market cap of $99.03 billion, a PE ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93. The business has a 50 day moving average price of $51.22 and a two-hundred day moving average price of $51.31. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.50) by $0.10. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

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.