Bristol-Myers Squibb (NYSE:BMY) to Post FY2024 Earnings of $0.72 Per Share, William Blair Forecasts

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at William Blair boosted their FY2024 earnings estimates for Bristol-Myers Squibb in a research note issued to investors on Sunday, July 28th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will earn $0.72 per share for the year, up from their prior estimate of $0.54. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.78 per share. William Blair also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.56 EPS, Q2 2025 earnings at $1.90 EPS, Q3 2025 earnings at $1.88 EPS, Q4 2025 earnings at $1.87 EPS, FY2025 earnings at $7.35 EPS and FY2027 earnings at $7.55 EPS.

A number of other equities research analysts also recently weighed in on BMY. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Barclays cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target on the stock. in a research report on Monday. BMO Capital Markets reduced their price target 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, April 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of BMY opened at $48.17 on Wednesday. The firm’s 50 day simple moving average is $42.24 and its 200 day simple moving average is $46.76. The company has a market capitalization of $97.66 billion, a P/E ratio of -15.54, a P/E/G ratio of 12.58 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.98%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the stock. Traynor Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 207 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its position in shares of Bristol-Myers Squibb by 4.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 209 shares in the last quarter. Accurate Wealth Management LLC boosted its position in Bristol-Myers Squibb by 4.0% during the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 216 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in Bristol-Myers Squibb by 12.8% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 216 shares in the last quarter. Finally, Bfsg LLC boosted its position in Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 76.41% 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. 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.