Bristol-Myers Squibb (NYSE:BMY) to Issue $0.60 Quarterly Dividend

Bristol-Myers Squibb (NYSE:BMYGet Free Report) announced a quarterly dividend on Friday, March 1st, RTT News reports. Investors of record on Friday, April 5th will be given a dividend of 0.60 per share by the biopharmaceutical company on Wednesday, May 1st. This represents a $2.40 annualized dividend and a yield of 4.53%. The ex-dividend date is Thursday, April 4th.

Bristol-Myers Squibb has raised its dividend payment by an average of 8.2% annually over the last three years. Bristol-Myers Squibb has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bristol-Myers Squibb to earn $6.87 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 29.1%.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $52.97 on Tuesday. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $71.07. 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 firm has a market cap of $107.36 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.64 and a beta of 0.39. The stock’s fifty day moving average price is $50.96 and its two-hundred day moving average price is $52.30.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the prior year, the company posted $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday. Wells Fargo & Company dropped their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.12.

Read Our Latest Stock Analysis on BMY

Bristol-Myers Squibb announced that its board has authorized a share repurchase plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMY. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $31,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $28,000. Live Oak Investment Partners bought a new position in Bristol-Myers Squibb during the 4th quarter worth $33,000. Finally, Fortis Capital Advisors LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth about $41,000. Institutional investors own 76.41% of the company’s stock.

About Bristol-Myers Squibb

(Get Free Report)

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.

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Dividend History for Bristol-Myers Squibb (NYSE:BMY)

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