Bristol-Myers Squibb Declares Quarterly Dividend of $0.60 (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) declared a quarterly dividend on Tuesday, June 18th, RTT News reports. Investors of record on Friday, July 5th will be given a dividend of 0.60 per share by the biopharmaceutical company on Thursday, August 1st. This represents a $2.40 annualized dividend and a yield of 5.86%.

Bristol-Myers Squibb has decreased its dividend payment by an average of 0.2% per year over the last three years and has raised its dividend every year for the last 16 years. Bristol-Myers Squibb has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bristol-Myers Squibb to earn $7.05 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 34.0%.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $40.97 on Tuesday. The firm has a fifty day moving average price of $44.30 and a 200-day moving average price of $48.67. Bristol-Myers Squibb has a 1 year low of $39.91 and a 1 year high of $66.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

About Bristol-Myers Squibb

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.