Bristol-Myers Squibb (BMY) to Issue Quarterly Dividend of $0.60 on November 1st

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Tuesday, September 10th, RTT News reports. Stockholders of record on Friday, October 4th will be paid a dividend of 0.60 per share by the biopharmaceutical company on Friday, November 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, October 4th.

Bristol-Myers Squibb has decreased its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $7.09 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 33.9%.

Bristol-Myers Squibb Trading Up 2.3 %

NYSE:BMY opened at $52.91 on Wednesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $58.06. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $107.25 billion, a PE ratio of -17.07, a P/E/G ratio of 12.96 and a beta of 0.46. The business’s 50 day moving average is $48.91 and its two-hundred day moving average is $46.28.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research reports. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays upped their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $55.00.

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.