Bristol-Myers Squibb Co. Forecasted to Post FY2019 Earnings of $4.22 Per Share (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY) – Equities research analysts at SunTrust Banks dropped their FY2019 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Tuesday. SunTrust Banks analyst J. Boris now forecasts that the firm will post earnings of $4.22 per share for the year, down from their previous estimate of $4.92. SunTrust Banks has a “Hold” rating and a $62.00 price objective on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2020 earnings at $4.81 EPS.
Several other research analysts also recently issued reports on BMY. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.79 price target for the company in a research note on Monday, June 27th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Finally, Jefferies Group lifted their price objective on Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded down 0.94% on Friday, reaching $49.77. 13,848,384 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $55.09 and a 200-day moving average price of $66.31. Bristol-Myers Squibb has a 1-year low of $49.12 and a 1-year high of $77.12. The company has a market capitalization of $83.16 billion, a PE ratio of 29.11 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
In related news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC raised its position in Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 75 shares during the period. Perkins Coie Trust Co raised its position in shares of Bristol-Myers Squibb by 3.1% in the third quarter. Perkins Coie Trust Co now owns 2,239 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 68 shares during the last quarter. Acropolis Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Acropolis Investment Management LLC now owns 2,815 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 495 shares during the last quarter. Jolley Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $163,000. 72.88% of the stock is currently owned by hedge funds and other institutional investors.
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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