Bristol-Myers Squibb (BMY) to Release Quarterly Earnings on Thursday

Bristol-Myers Squibb (NYSE:BMY) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Bristol-Myers Squibb to post earnings of ($4.41) per share for the quarter. Bristol-Myers Squibb has set its FY 2024 guidance at 7.100-7.400 EPS and its FY24 guidance at $7.10-7.40 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. On average, analysts expect Bristol-Myers Squibb to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Bristol-Myers Squibb Trading Down 0.9 %

Shares of NYSE:BMY opened at $47.83 on Thursday. The stock has a 50 day moving average of $51.26 and a 200 day moving average of $51.59. The company has a market cap of $96.94 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.46 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. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors have recently added to or reduced their stakes in BMY. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $26,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at $28,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $31,000. Main Street Group LTD acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $33,000. Finally, Live Oak Investment Partners acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMY. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.12.

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.