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

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.60-0.90 for the period, compared to the consensus earnings per share estimate of $0.51. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.600-0.900 EPS.

Bristol-Myers Squibb Trading Up 1.4 %

Shares of BMY stock opened at $45.27 on Friday. The stock has a 50-day moving average of $41.63 and a 200-day moving average of $46.83. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.89.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.40. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, analysts expect that Bristol-Myers Squibb will post 0.53 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

Several research firms recently commented on BMY. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research note on Tuesday. StockNews.com cut Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Thursday, June 27th. Wells Fargo & Company raised their target price 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. Finally, William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $57.73.

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.