Bristol-Myers Squibb to Post Q3 2024 Earnings of $1.70 Per Share, Leerink Partnrs Forecasts (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at Leerink Partnrs issued their Q3 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report issued on Wednesday, April 10th. Leerink Partnrs analyst D. Risinger forecasts that the biopharmaceutical company will earn $1.70 per share for the quarter. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $4.88 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.67 EPS, FY2024 earnings at $6.70 EPS, FY2025 earnings at $6.78 EPS, FY2026 earnings at $6.39 EPS, FY2027 earnings at $6.71 EPS and FY2028 earnings at $6.40 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year.

Several other research analysts have also issued reports on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company lowered their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Redburn Atlantic lowered 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 report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Down 1.7 %

Shares of Bristol-Myers Squibb stock opened at $48.28 on Friday. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock’s 50-day moving average is $51.28 and its 200 day moving average is $51.84. The firm has a market cap of $97.85 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.06 and a beta of 0.39.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. True Wealth Design LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $27,000. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $28,000. Institutional investors own 76.41% of the company’s stock.

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.