Zacks: Brokerages Expect Bristol-Myers Squibb Co (NYSE:BMY) Will Post Earnings of $0.89 Per Share

Wall Street brokerages expect Bristol-Myers Squibb Co (NYSE:BMY) to announce earnings of $0.89 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bristol-Myers Squibb’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.87. Bristol-Myers Squibb posted earnings per share of $0.94 during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The firm is expected to issue its next earnings report on Thursday, January 23rd.

On average, analysts expect that Bristol-Myers Squibb will report full year earnings of $4.33 per share for the current fiscal year, with EPS estimates ranging from $4.28 to $4.35. For the next financial year, analysts anticipate that the firm will report earnings of $5.30 per share, with EPS estimates ranging from $4.44 to $6.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Bristol-Myers Squibb.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter last year, the firm earned $1.09 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 5.6% on a year-over-year basis.

Several analysts have recently commented on BMY shares. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective for the company in a research report on Wednesday, August 14th. UBS Group raised their price target on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Peel Hunt reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, October 29th. TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Finally, Wolfe Research set a $66.00 target price on Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $57.45.

BMY traded down $0.07 during trading on Friday, hitting $56.41. The company’s stock had a trading volume of 184,905,099 shares, compared to its average volume of 13,648,930. The firm has a market capitalization of $95.46 billion, a P/E ratio of 14.17, a PEG ratio of 1.36 and a beta of 0.71. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $59.17. The stock’s fifty day moving average price is $54.47 and its 200-day moving average price is $48.82. The company has a quick ratio of 3.72, a current ratio of 3.83 and a debt-to-equity ratio of 1.37.

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is currently 41.21%.

In other Bristol-Myers Squibb news, insider Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the transaction, the insider now directly owns 31,963 shares in the company, valued at $1,807,827.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John E. Elicker sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total value of $849,900.00. Following the transaction, the senior vice president now directly owns 74,471 shares in the company, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Bath Savings Trust Co grew its stake in shares of Bristol-Myers Squibb by 3.4% during the second quarter. Bath Savings Trust Co now owns 17,108 shares of the biopharmaceutical company’s stock worth $776,000 after buying an additional 568 shares during the last quarter. Boltwood Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 1.9% during the second quarter. Boltwood Capital Management now owns 21,626 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 400 shares during the period. Thomasville National Bank grew its stake in shares of Bristol-Myers Squibb by 1.6% in the second quarter. Thomasville National Bank now owns 18,605 shares of the biopharmaceutical company’s stock worth $843,000 after purchasing an additional 293 shares during the last quarter. Private Asset Management Inc. increased its holdings in Bristol-Myers Squibb by 5.5% in the second quarter. Private Asset Management Inc. now owns 129,289 shares of the biopharmaceutical company’s stock valued at $5,863,000 after purchasing an additional 6,775 shares during the period. Finally, ELM Advisors LLC increased its holdings in Bristol-Myers Squibb by 5.7% in the second quarter. ELM Advisors LLC now owns 7,358 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 400 shares during the period. Institutional investors own 82.87% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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