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 $0.75-0.95 for the period, compared to the consensus EPS estimate of $0.70. The company issued revenue guidance of +5% yr/yr to $47.26 billion, compared to the consensus revenue estimate of $46.78 billion. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.750-0.950 EPS.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.08.

Bristol-Myers Squibb Trading Down 2.6 %

NYSE:BMY traded down $1.45 on Friday, reaching $54.32. The company’s stock had a trading volume of 12,894,832 shares, compared to its average volume of 14,484,395. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20. The business’s 50-day moving average price is $51.26 and its two-hundred day moving average price is $46.57. The firm has a market cap of $110.13 billion, a PE ratio of -16.66, a PEG ratio of 14.62 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the business earned $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio is currently -73.62%.

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.