FY2017 EPS Estimates for Bristol-Myers Squibb Company (BMY) Reduced by Jefferies Group
Bristol-Myers Squibb Company (NYSE:BMY) – Stock analysts at Jefferies Group reduced their FY2017 EPS estimates for Bristol-Myers Squibb in a research note issued to investors on Monday. Jefferies Group analyst J. Holford now anticipates that the biopharmaceutical company will post earnings of $2.98 per share for the year, down from their prior estimate of $3.01. Jefferies Group has a “Hold” rating and a $72.00 price target on the stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $3.19 EPS, FY2019 earnings at $3.86 EPS, FY2020 earnings at $4.34 EPS and FY2021 earnings at $4.97 EPS.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS.
Several other brokerages have also recently weighed in on BMY. Cowen and Company reaffirmed a “hold” rating and issued a $65.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, September 19th. Vetr cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 price target for the company. in a research note on Thursday, September 28th. UBS AG reaffirmed a “buy” rating and issued a $72.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Hilliard Lyons cut Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Tuesday, September 12th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $63.79.
Bristol-Myers Squibb (BMY) traded down 0.1896% during midday trading on Wednesday, hitting $64.5474. 2,277,871 shares of the stock traded hands. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $66.10. The company’s 50-day moving average is $63.26 and its 200-day moving average is $57.22. The company has a market cap of $105.85 billion, a PE ratio of 23.5747 and a beta of 1.19.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Waldron LP bought a new position in Bristol-Myers Squibb during the 1st quarter worth $475,000. IFP Advisors Inc increased its position in Bristol-Myers Squibb by 5.5% during the 1st quarter. IFP Advisors Inc now owns 92,923 shares of the biopharmaceutical company’s stock worth $5,053,000 after buying an additional 4,812 shares during the period. Leavell Investment Management Inc. increased its position in Bristol-Myers Squibb by 3.1% during the 1st quarter. Leavell Investment Management Inc. now owns 21,471 shares of the biopharmaceutical company’s stock worth $1,168,000 after buying an additional 650 shares during the period. Breton Hill Capital Ltd. bought a new position in Bristol-Myers Squibb during the 1st quarter worth $1,335,000. Finally, Oakworth Capital Inc. increased its position in Bristol-Myers Squibb by 3.7% during the 1st quarter. Oakworth Capital Inc. now owns 10,830 shares of the biopharmaceutical company’s stock worth $589,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is presently 56.73%.
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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