Bristol-Myers Squibb (NYSE:BMY) Forecasted to Post Q3 2024 Earnings of $1.67 Per Share

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will post earnings per share of $1.67 for the quarter, down from their prior 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 Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share.

Other research analysts have also issued research reports about the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Trading Down 8.6 %

BMY opened at $44.68 on Wednesday. The firm has a market cap of $90.56 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $44.37 and a 12 month high of $69.74. 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 50-day moving average of $51.13 and a 200 day moving average of $51.26.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

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

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.