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

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Tuesday, September 10th, RTT News reports. Investors of record on Friday, October 4th will be given a dividend of 0.60 per share by the biopharmaceutical company on Friday, November 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, October 4th.

Bristol-Myers Squibb has decreased its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $7.09 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 33.9%.

Bristol-Myers Squibb Trading Up 2.3 %

Shares of NYSE:BMY opened at $52.91 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $58.06. The company has a 50 day moving average price of $48.91 and a 200 day moving average price of $46.28.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. 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 $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the firm posted $1.75 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on BMY shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.00.

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.