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 (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.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.16 on Friday, hitting $44.86. 21,279,666 shares of the stock were exchanged, compared to its average volume of 15,968,238. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. The firm’s 50 day moving average is $51.13 and its two-hundred day moving average is $51.26. The firm has a market capitalization of $90.92 billion, a PE ratio of 11.70, a P/E/G ratio of 1.47 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 6.63 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 given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Analyst Ratings Changes

Several equities analysts recently commented on BMY shares. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday. StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a research note on Friday. Finally, Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of Hold and a consensus target price 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.