Bristol-Myers Squibb (NYSE:BMY) Issues FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $0.40-0.70 for the period, compared to the consensus EPS estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.16 on Friday, hitting $44.86. The company’s stock had a trading volume of 21,279,666 shares, compared to its average volume of 15,968,238. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The company has a market capitalization of $90.92 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.47 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a 50 day moving average of $51.13 and a 200-day moving average of $51.26.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Analysts Set New Price Targets

Several brokerages recently commented on BMY. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research report on Thursday, April 18th. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a research report on Friday. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research note on Friday. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $60.00.

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.