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

Bristol-Myers Squibb (NYSE:BMY) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $0.60-0.90 for the period, compared to the consensus earnings per share estimate of $0.51. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.600-0.900 EPS.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $5.18 during trading on Friday, reaching $50.45. The company’s stock had a trading volume of 36,636,434 shares, compared to its average volume of 15,289,099. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The firm has a market cap of $102.27 billion, a PE ratio of -16.26, a P/E/G ratio of 17.07 and a beta of 0.44. The company has a 50-day moving average price of $41.76 and a two-hundred day moving average price of $46.82. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. On average, analysts forecast that Bristol-Myers Squibb will post 0.53 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Barclays dropped their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday, April 26th. StockNews.com downgraded Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Thursday, June 27th. Wells Fargo & Company lifted their price target on 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. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $57.73.

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.