Bristol Myers Squibb Company Plans Quarterly Dividend of $0.63 (NYSE:BMY)

Bristol Myers Squibb Company (NYSE:BMY) announced a quarterly dividend on Monday, March 2nd. Shareholders of record on Thursday, April 2nd will be given a dividend of 0.63 per share by the biopharmaceutical company on Friday, May 1st. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Thursday, April 2nd.

Bristol Myers Squibb has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 17 years. Bristol Myers Squibb has a dividend payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bristol Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 41.4%.

Bristol Myers Squibb Stock Up 2.1%

Bristol Myers Squibb stock opened at $59.76 on Tuesday. Bristol Myers Squibb has a fifty-two week low of $42.52 and a fifty-two week high of $62.89. The firm has a market capitalization of $122.01 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.17 and a beta of 0.26. The stock’s fifty day moving average is $58.91 and its two-hundred day moving average is $52.35. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.14 and a current ratio of 1.26.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.39). Bristol Myers Squibb had a return on equity of 69.65% and a net margin of 14.64%.The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same period last year, the firm earned $1.67 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Analysts predict that Bristol Myers Squibb will post 6.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMY. Bank of America upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Citigroup increased their price target on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Wells Fargo & Company restated an “outperform” rating and set a $60.00 price objective (up from $55.00) on shares of Bristol Myers Squibb in a research report on Friday, February 6th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 target price (up from $62.00) on shares of Bristol Myers Squibb in a research note on Friday, February 6th. Finally, Leerink Partners increased their target price on Bristol Myers Squibb from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $61.41.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.