Bristol-Myers Squibb (NYSE:BMY) Issues FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.40-0.70 for the period, compared to the consensus EPS estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Bristol-Myers Squibb Trading Up 0.3 %

BMY traded up $0.15 during trading on Friday, reaching $44.85. 21,281,927 shares of the company’s stock were exchanged, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. 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 $90.90 billion, a PE ratio of -14.47, a price-to-earnings-growth ratio of 16.25 and a beta of 0.39. The firm has a fifty day moving average price of $51.03 and a two-hundred day moving average price of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the previous year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BMY shares. Bank of America lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating on the stock in a research note on Friday. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and cut their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Company Profile

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.