Bristol-Myers Squibb (NYSE:BMY) Updates FY 2024 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.400-0.700 for the period, compared to the consensus earnings per share estimate of 0.650. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Stock Down 0.3 %

BMY opened at $48.86 on Thursday. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. 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 stock has a market capitalization of $99.03 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39. The business has a 50 day moving average of $51.22 and a 200-day moving average of $51.31.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 dividend on an annualized basis and a dividend yield of 4.91%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America lowered Bristol-Myers Squibb from a buy rating to a neutral rating and cut their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. Wells Fargo & Company increased their target price on 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 cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Finally, William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target 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.