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

Bristol-Myers Squibb (NYSE:BMY) will be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of ($4.41) per share for the quarter. Bristol-Myers Squibb has set its FY 2024 guidance at 7.100-7.400 EPS and its FY24 guidance at $7.10-7.40 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. On average, analysts expect Bristol-Myers Squibb to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $47.83 on Thursday. The stock has a market capitalization of $96.94 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The company has a 50 day moving average of $51.26 and a 200-day moving average of $51.59. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently modified their holdings of BMY. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,873,696,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Bristol-Myers Squibb by 16.6% in the 4th quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock worth $1,016,502,000 after purchasing an additional 2,814,746 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 114.5% in the 4th quarter. Voloridge Investment Management LLC now owns 4,990,171 shares of the biopharmaceutical company’s stock worth $256,046,000 after purchasing an additional 2,664,152 shares in the last quarter. Finally, Cowa LLC lifted its holdings in shares of Bristol-Myers Squibb by 9,777.8% in the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock worth $1,211,000 after purchasing an additional 1,641,110 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Wells Fargo & Company dropped their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. 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 company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $61.12.

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.