Bristol-Myers Squibb (BMY) to Release Earnings on Thursday

Bristol-Myers Squibb (NYSE:BMY) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Bristol-Myers Squibb has set its FY24 guidance at $0.60-0.90 EPS and its FY 2024 guidance at 0.600-0.900 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $11.54 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts expect Bristol-Myers Squibb to post $1 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Bristol-Myers Squibb Stock Up 0.6 %

Shares of BMY opened at $53.06 on Thursday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.77. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $107.56 billion, a price-to-earnings ratio of -17.12, a PEG ratio of 13.75 and a beta of 0.46. The stock’s 50-day moving average price is $50.63 and its 200-day moving average price is $46.39.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.20.

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.