Zacks Research Weighs in on Bristol-Myers Squibb’s FY2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report issued on Thursday, May 9th. Zacks Research analyst E. Bagri expects that the biopharmaceutical company will earn $0.57 per share for the year. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.59 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q1 2025 earnings at $1.79 EPS, Q2 2025 earnings at $1.77 EPS, Q4 2025 earnings at $1.76 EPS, FY2025 earnings at $6.94 EPS and Q1 2026 earnings at $1.52 EPS.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis.

BMY has been the subject of a number of other reports. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, Barclays decreased their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $44.94 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The firm has a market cap of $91.10 billion, a price-to-earnings ratio of -14.50, a PEG ratio of 15.14 and a beta of 0.45. Bristol-Myers Squibb has a 52-week low of $43.33 and a 52-week high of $69.10. The business’s 50 day moving average is $49.72 and its two-hundred day moving average is $50.27.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of BMY. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $909,000. IRON Financial LLC increased its holdings in shares of Bristol-Myers Squibb by 9.2% during the 3rd quarter. IRON Financial LLC now owns 10,979 shares of the biopharmaceutical company’s stock valued at $637,000 after acquiring an additional 926 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Bristol-Myers Squibb by 23.5% during the 3rd quarter. Jennison Associates LLC now owns 3,768,936 shares of the biopharmaceutical company’s stock valued at $218,749,000 after acquiring an additional 716,218 shares during the last quarter. Finally, Community Bank & Trust Waco Texas acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $168,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

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.