Bristol-Myers Squibb Forecasted to Post Q1 2023 Earnings of $2.02 Per Share (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY – Get Rating) – Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report released on Monday, March 6th. Jefferies Financial Group analyst A. Tewari anticipates that the biopharmaceutical company will post earnings of $2.02 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $62.00 price target on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $8.07 per share. Jefferies Financial Group also issued estimates for Bristol-Myers Squibb’s Q2 2023 earnings at $2.00 EPS, Q3 2023 earnings at $1.99 EPS, Q4 2023 earnings at $2.02 EPS, FY2023 earnings at $8.04 EPS, FY2024 earnings at $8.20 EPS, FY2025 earnings at $8.20 EPS, FY2026 earnings at $7.90 EPS and FY2027 earnings at $7.81 EPS.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.11. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $11.20 billion. During the same period in the prior year, the business earned $1.83 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year.

BMY has been the subject of several other reports. Morgan Stanley upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “underweight” rating in a report on Friday, February 3rd. Credit Suisse Group began coverage on Bristol-Myers Squibb in a research report on Thursday, November 17th. They issued a “neutral” rating and a $78.00 price target for the company. Cantor Fitzgerald began coverage on Bristol-Myers Squibb in a research report on Tuesday, January 17th. They issued an “overweight” rating and a $95.00 price target for the company. Atlantic Securities boosted their price target on Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $68.00 on Tuesday. Bristol-Myers Squibb has a twelve month low of $65.95 and a twelve month high of $81.43. The stock has a market capitalization of $142.72 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.50 and a beta of 0.46. The stock has a fifty day simple moving average of $71.86 and a two-hundred day simple moving average of $73.17. The company has a current ratio of 1.25, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. True Wealth Design LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth approximately $31,000. Coppell Advisory Solutions Corp. purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $31,000. Live Oak Investment Partners purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $33,000. Finally, My Personal CFO LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the sale, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Ann Powell sold 11,183 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.69, for a total value of $835,258.27. Following the sale, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Giovanni Caforio sold 240,000 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.65, for a total value of $17,916,000.00. Following the completion of the sale, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, April 6th. This represents a $2.28 annualized dividend and a yield of 3.35%. Bristol-Myers Squibb’s payout ratio is presently 77.29%.

About Bristol-Myers Squibb

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.