Zacks Research Weighs in on Bristol-Myers Squibb’s Q3 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a research note issued on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings per share of $1.67 for the quarter, down from their prior forecast of $1.73. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.74 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.55 EPS, FY2025 earnings at $6.67 EPS, Q1 2026 earnings at $1.50 EPS and FY2026 earnings at $6.21 EPS.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS.

Other equities analysts also recently issued reports about the stock. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Price Performance

BMY opened at $48.86 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market capitalization of $99.03 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39. The firm’s fifty day moving average price is $51.22 and its two-hundred day moving average price is $51.31. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $27,000. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $27,000. Blue Bell Private Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $31,000. 76.41% of the stock is currently owned by institutional investors.

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.