Bristol-Myers Squibb Co. (BMY) Expected to Earn Q3 2016 Earnings of $0.64 Per Share
Bristol-Myers Squibb Co. (NYSE:BMY) – Stock analysts at Jefferies Group issued their Q3 2016 EPS estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Holford anticipates that the firm will earn $0.64 per share for the quarter. Jefferies Group has a “Hold” rating and a $57.00 price target on the stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2016 earnings at $2.62 EPS, FY2017 earnings at $2.76 EPS, FY2018 earnings at $3.02 EPS and FY2019 earnings at $3.96 EPS.
Other analysts have also issued research reports about the stock. Citigroup Inc. reduced their price target on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating and set a $85.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, July 29th. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price target on the stock in a research report on Monday, July 25th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, July 13th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $69.31.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 49.77 on Friday. The stock has a market cap of $83.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.74. Bristol-Myers Squibb has a one year low of $49.12 and a one year high of $77.12. The stock’s 50 day moving average price is $55.09 and its 200 day moving average price is $66.31.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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 valued at $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 Bristol-Myers Squibb during the second quarter valued at about $154,732,000. Sustainable Growth Advisers LP boosted its position in 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 valued at $103,153,000 after buying an additional 1,334,303 shares in the last quarter. Jarislowsky Fraser Ltd boosted its position in 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 valued at $100,571,000 after buying an additional 1,332,163 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at about $94,956,000. 72.88% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 3.05%. 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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