Q3 2024 EPS Estimates for Bristol-Myers Squibb (NYSE:BMY) Lowered by Analyst

Bristol-Myers Squibb (NYSE:BMY) – Zacks Research dropped their Q3 2024 EPS estimates for Bristol-Myers Squibb in a report released on Tuesday, April 23rd. Zacks Research analyst E. Bagri now forecasts that the biopharmaceutical company will post earnings of $1.67 per share for the quarter, down from their previous 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 issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS.

BMY has been the topic of a number of other reports. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $49.00 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The stock has a market cap of $99.31 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The stock’s fifty day simple moving average is $51.22 and its two-hundred day simple moving average is $51.32. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently made changes to their positions in BMY. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $31,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.