Leerink Partnrs Issues Pessimistic Forecast for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs cut their Q3 2024 earnings per share estimates for Bristol-Myers Squibb in a research note issued on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $1.51 for the quarter, down from their previous estimate of $1.66. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.77 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.70 EPS, FY2025 earnings at $7.06 EPS, FY2026 earnings at $6.30 EPS and FY2027 earnings at $6.75 EPS.

Several other brokerages have also recently weighed in on BMY. Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Stock Up 0.6 %

Shares of BMY stock opened at $53.06 on Thursday. The stock has a 50 day moving average of $50.63 and a 200 day moving average of $46.39. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market cap of $107.56 billion, a P/E ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $1.75 earnings per share.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $34,000. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.