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 Friday morning. The company provided EPS guidance of 0.600-0.900 for the period, compared to the consensus EPS estimate of 0.510. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.60-0.90 EPS.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $5.18 during trading hours on Friday, hitting $50.45. The company had a trading volume of 36,636,434 shares, compared to its average volume of 15,289,099. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The firm has a market cap of $102.27 billion, a PE ratio of -16.27, a PEG ratio of 19.02 and a beta of 0.44. The firm has a 50-day moving average of $41.76 and a 200 day moving average of $46.79. 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 (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the firm earned $1.75 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on BMY shares. Cantor Fitzgerald reiterated a neutral rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a report on Thursday, April 18th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays decreased their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average 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.