Bristol-Myers Squibb Announces Quarterly Dividend of $0.60 (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Tuesday, June 18th, RTT News reports. Investors of record on Friday, July 5th will be paid a dividend of 0.60 per share by the biopharmaceutical company on Thursday, August 1st. This represents a $2.40 annualized dividend and a yield of 5.93%. The ex-dividend date is Friday, July 5th.

Bristol-Myers Squibb has decreased its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $7.06 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 34.0%.

Bristol-Myers Squibb Stock Down 2.0 %

Shares of BMY stock opened at $40.46 on Wednesday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 12-month low of $39.63 and a 12-month high of $65.38. The firm has a 50-day moving average price of $42.81 and a 200 day moving average price of $48.04.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, research analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BMY. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Barclays cut their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.