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

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

Wall Street Analyst Weigh In

Several research firms have issued reports on BMY. Bank of America lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Redburn Atlantic cut Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com cut Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. Wells Fargo & Company lifted 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. Finally, Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $61.18.

Bristol-Myers Squibb Stock Down 8.6 %

BMY traded down $4.18 during trading on Thursday, reaching $44.68. 45,047,382 shares of the stock traded hands, compared to its average volume of 15,901,512. The stock has a market cap of $90.56 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $44.37 and a fifty-two week high of $69.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock’s 50-day simple moving average is $51.13 and its two-hundred day simple moving average is $51.26.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.37%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

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.