Bristol-Myers Squibb (NYSE:BMY) Releases FY 2024 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.400-0.700 for the period, compared to the consensus estimate of 0.650. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.15 during midday trading on Friday, reaching $44.85. The company had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. The company has a market capitalization of $90.90 billion, a P/E ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The firm’s fifty day simple moving average is $51.03 and its 200-day simple moving average is $51.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a report on Friday. Societe Generale downgraded shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a buy rating to a neutral rating and cut their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com downgraded shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. Finally, Wells Fargo & Company raised 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 report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of Hold and an average price target of $60.00.

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.