Bristol-Myers Squibb Co (NYSE:BMY) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Shareholders of record on Friday, January 4th will be paid a dividend of 0.41 per share by the biopharmaceutical company on Friday, February 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.08%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.40.
Bristol-Myers Squibb has increased its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 8 years. Bristol-Myers Squibb has a dividend payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $4.08 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 39.2%.
NYSE BMY traded up $1.22 on Thursday, reaching $53.25. 11,209,883 shares of the stock traded hands, compared to its average volume of 7,804,475. The company has a quick ratio of 1.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The firm has a market cap of $84.92 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. Bristol-Myers Squibb has a 12 month low of $46.94 and a 12 month high of $70.05.
A number of equities research analysts have weighed in on BMY shares. Barclays lifted their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 12th. Morgan Stanley cut their price target on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, November 6th. Credit Suisse Group set a $61.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, October 14th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Friday, October 5th. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $61.95.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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