Bristol-Myers Squibb (NYSE:BMY) Releases Earnings Results, Beats Expectations By $0.13 EPS

Bristol-Myers Squibb (NYSE:BMY) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13, Briefing.com reports. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.05 earnings per share. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Price Performance

BMY opened at $44.86 on Friday. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The firm has a market cap of $90.92 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.47 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $51.18.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BMY shares. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Barclays decreased their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $60.00.

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.