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 Analysts Forecast Growth

Several equities analysts recently issued reports on BMY shares. Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. Bank of America cut Bristol-Myers Squibb from a buy rating to a neutral rating and lowered their price objective for the company 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 lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating on the stock in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.15 during trading on Friday, reaching $44.85. The company had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a 52 week low of $44.34 and a 52 week high of $69.10. The firm’s 50-day simple moving average is $51.03 and its 200 day simple moving average is $51.18. The firm has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a price-to-earnings-growth ratio of 16.25 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 earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the firm earned $2.05 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.