Bristol-Myers Squibb (NYSE:BMY) Updates 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 guidance of 0.750-0.950 for the period, compared to the consensus earnings per share estimate of 0.710. The company issued revenue guidance of $47.3 billion-$47.3 billion, compared to the consensus revenue estimate of $46.8 billion. Bristol-Myers Squibb also updated its FY24 guidance to $0.75-0.95 EPS.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. UBS Group raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Finally, Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

Shares of NYSE BMY traded down $1.45 during trading hours on Friday, hitting $54.32. The stock had a trading volume of 12,894,832 shares, compared to its average volume of 8,759,896. The firm’s 50-day moving average price is $51.26 and its two-hundred day moving average price is $46.57. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.20. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.40%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.72 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.