Q2 2024 Earnings Forecast for Bristol-Myers Squibb Issued By Zacks Research (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Research analysts at Zacks Research cut their Q2 2024 earnings estimates for shares of Bristol-Myers Squibb in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will earn $1.77 per share for the quarter, down from their prior estimate of $1.83. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.71 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Trading Down 8.6 %

Shares of NYSE:BMY opened at $44.68 on Thursday. 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 company has a 50 day moving average of $51.13 and a 200-day moving average of $51.26. Bristol-Myers Squibb has a twelve month low of $44.37 and a twelve month high of $69.74. The firm has a market cap of $90.56 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.48 and a beta of 0.39.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. grew its position in Bristol-Myers Squibb by 6.8% in the third quarter. GHP Investment Advisors Inc. now owns 6,076 shares of the biopharmaceutical company’s stock worth $343,000 after acquiring an additional 386 shares in the last quarter. B.O.S.S. Retirement Advisors LLC grew its position in Bristol-Myers Squibb by 15.6% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 4,365 shares of the biopharmaceutical company’s stock worth $253,000 after acquiring an additional 589 shares in the last quarter. Boston Trust Walden Corp grew its position in Bristol-Myers Squibb by 5.3% in the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock worth $886,000 after acquiring an additional 771 shares in the last quarter. Riverwater Partners LLC grew its position in Bristol-Myers Squibb by 17.7% in the third quarter. Riverwater Partners LLC now owns 4,583 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 689 shares in the last quarter. Finally, Strategic Blueprint LLC grew its position in Bristol-Myers Squibb by 8.6% in the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock worth $316,000 after acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Announces Dividend

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 paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.37%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Bristol-Myers Squibb Company Profile

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.