Q3 EPS Forecast for Bristol-Myers Squibb Lowered by Analyst

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at Leerink Partnrs decreased their Q3 2024 EPS estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $1.51 per share for the quarter, down from their previous estimate of $1.66. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.77 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.70 EPS, FY2025 earnings at $7.06 EPS, FY2026 earnings at $6.30 EPS and FY2027 earnings at $6.75 EPS.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.31.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $51.92 on Thursday. The company has a fifty day moving average price of $50.70 and a two-hundred day moving average price of $46.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $55.29. The stock has a market cap of $105.24 billion, a P/E ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The business’s revenue was up 8.7% compared to the same quarter last year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMY. Capital International Investors boosted its stake in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $392,608,000. Pzena Investment Management LLC increased its position in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares during the period. Price T Rowe Associates Inc. MD increased its position in Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -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.