Bristol-Myers Squibb (BMY) to Release Earnings on Thursday

Bristol-Myers Squibb (NYSE:BMY) will issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Bristol-Myers Squibb has set its FY24 guidance at $0.60-0.90 EPS and its FY 2024 guidance at 0.600-0.900 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts expect Bristol-Myers Squibb to post $1 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Bristol-Myers Squibb Trading Up 0.6 %

NYSE BMY opened at $53.06 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.77. 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. The stock’s fifty day moving average price is $50.63 and its 200-day moving average price is $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.

Bristol-Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on BMY. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Barclays increased 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. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $53.20.

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.