Bristol-Myers Squibb (NYSE:BMY – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.40-0.70 for the period, compared to the consensus estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com lowered shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. Bank of America lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. 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. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of Hold and a consensus price target of $60.00.
Read Our Latest Stock Analysis on Bristol-Myers Squibb
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. On average, research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend 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 62.18%.
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.
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