Brokers Set Expectations for Bristol-Myers Squibb’s Q2 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Leerink Partnrs cut their Q2 2024 earnings per share estimates for Bristol-Myers Squibb in a research note issued on Thursday, April 25th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $1.76 for the quarter, down from their previous forecast of $1.80. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.58 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.57 EPS and FY2027 earnings at $6.23 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS.

Several other research analysts also recently commented on the stock. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company lifted their price objective 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. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $44.85 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $51.03 and a 200-day simple moving average of $51.10. The stock has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a PEG ratio of 16.31 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $44.34 and a 1-year high of $69.10.

Institutional Trading of Bristol-Myers Squibb

A number of large investors have recently bought and sold shares of the stock. Vicus Capital boosted its stake in shares of Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares in the last quarter. Lindbrook Capital LLC grew its stake in Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 182 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 6.6% during the third quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 192 shares in the last quarter. Symphony Financial Ltd. Co. raised its stake in shares of Bristol-Myers Squibb by 4.1% in the third quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 194 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.