Bristol-Myers Squibb (NYSE:BMY) Announces Earnings Results, Beats Estimates By $0.13 EPS

Bristol-Myers Squibb (NYSE:BMY) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13, Briefing.com reports. The business had revenue of $11.87 billion for 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 firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Stock Down 8.4 %

Bristol-Myers Squibb stock traded down $4.09 during midday trading on Thursday, reaching $44.77. The stock had a trading volume of 26,545,492 shares, compared to its average volume of 15,657,097. The company has a market capitalization of $90.74 billion, a P/E ratio of 11.70, a PEG ratio of 1.48 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12 month low of $44.61 and a 12 month high of $69.74. The company has a fifty day moving average price of $51.22 and a two-hundred day moving average price of $51.31.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.36%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.18.

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.