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

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.40-0.70 for the period, compared to the consensus earnings per share estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Bristol-Myers Squibb Stock Up 0.4 %

NYSE BMY traded up $0.16 on Friday, reaching $44.86. The company had a trading volume of 21,279,666 shares, compared to its average volume of 15,968,238. The stock has a market capitalization of $90.92 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.47 and a beta of 0.39. The company’s fifty day moving average is $51.13 and its 200 day moving average is $51.26. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the firm posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMY. Barclays decreased their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a research report on Friday. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets decreased their target price 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. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus 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.