Zacks: Brokerages Anticipate Bristol-Myers Squibb Co (NYSE:BMY) to Announce $1.47 Earnings Per Share

Wall Street brokerages expect Bristol-Myers Squibb Co (NYSE:BMY) to report earnings of $1.47 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bristol-Myers Squibb’s earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.51. Bristol-Myers Squibb posted earnings of $1.18 per share in the same quarter last year, which indicates a positive year over year growth rate of 24.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Bristol-Myers Squibb will report full year earnings of $6.14 per share for the current financial year, with EPS estimates ranging from $6.08 to $6.20. For the next financial year, analysts forecast that the firm will report earnings of $7.35 per share, with EPS estimates ranging from $7.28 to $7.40. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Bristol-Myers Squibb.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.23. The firm had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.04 billion. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The company’s revenue was up 82.1% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share.

BMY has been the subject of several recent research reports. TheStreet downgraded shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research note on Monday, April 13th. Bank of America reiterated a “buy” rating and issued a $80.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, May 15th. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research note on Thursday, April 16th. Barclays began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $69.00 target price for the company. Finally, ValuEngine cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.38.

Shares of BMY traded down $0.35 during trading hours on Monday, hitting $60.79. The company’s stock had a trading volume of 9,226,185 shares, compared to its average volume of 16,080,694. The company has a market cap of $138.34 billion, a price-to-earnings ratio of 75.05, a PEG ratio of 1.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.51. The business has a 50 day simple moving average of $60.48 and a two-hundred day simple moving average of $60.71. Bristol-Myers Squibb has a 52-week low of $42.48 and a 52-week high of $68.34.

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 3rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.96%. Bristol-Myers Squibb’s dividend payout ratio is presently 38.38%.

In other Bristol-Myers Squibb news, EVP John E. Elicker sold 15,805 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $61.01, for a total value of $964,263.05. Following the completion of the transaction, the executive vice president now owns 58,666 shares of the company’s stock, valued at approximately $3,579,212.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at approximately $1,678,382.36. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BMY. JCIC Asset Management Inc. purchased a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $25,000. Stonebridge Financial Planning Group LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $26,000. grace capital purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $26,000. Perennial Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Finally, Birch Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. 76.51% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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