FY2018 EPS Estimates for Bristol-Myers Squibb Co. (BMY) Reduced by Analyst
Bristol-Myers Squibb Co. (NYSE:BMY) – Equities researchers at Leerink Swann reduced their FY2018 earnings per share estimates for Bristol-Myers Squibb in a research note issued on Thursday. Leerink Swann analyst S. Fernandez now forecasts that the firm will post earnings of $3.26 per share for the year, down from their prior forecast of $3.94. Leerink Swann currently has a “Buy” rating and a $69.00 target price on the stock. Leerink Swann also issued estimates for Bristol-Myers Squibb’s FY2019 earnings at $3.82 EPS and FY2020 earnings at $4.56 EPS.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period last year, the business earned $0.53 EPS. The company’s revenue was up 17.2% compared to the same quarter last year.
A number of other research analysts have also recently commented on BMY. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research report on Monday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $86.00 to $68.00 in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $69.61.
Bristol-Myers Squibb (NYSE:BMY) traded down 9.2448% during mid-day trading on Monday, hitting $50.3056. 17,836,494 shares of the stock were exchanged. The company has a 50 day moving average of $56.41 and a 200 day moving average of $66.79. The firm has a market cap of $84.05 billion, a P/E ratio of 29.4185 and a beta of 0.75. Bristol-Myers Squibb has a 12-month low of $49.92 and a 12-month high of $77.12.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock worth $8,057,758,000 after buying an additional 3,595,648 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Bristol-Myers Squibb during the second quarter worth $154,732,000. Sustainable Growth Advisers LP boosted its position in shares of Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock worth $103,153,000 after buying an additional 1,334,303 shares in the last quarter. Jarislowsky Fraser Ltd boosted its position in shares of Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock worth $100,571,000 after buying an additional 1,332,163 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter worth $94,956,000. Institutional investors and hedge funds own 72.88% of the company’s stock.
In other news, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the transaction, the director now owns 364,999 shares in the company, valued at $21,596,990.83. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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