Bristol-Myers Squibb Price Target Raised to $51.00 at BMO Capital Markets (BMY)
Equities researchers at BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb (NYSE:BMY) from $48.00 to $51.00 in a research report issued on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 4.57% from the stock’s previous close.
Bristol-Myers Squibb (NYSE:BMY) traded down 1.22% during mid-day trading on Wednesday, hitting $48.77. The stock had a trading volume of 5,949,891 shares. Bristol-Myers Squibb has a 52 week low of $30.64 and a 52 week high of $49.57. The stock has a 50-day moving average of $42.73 and a 200-day moving average of $42.60. The company has a market cap of $80.291 billion and a P/E ratio of 60.28.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings data on Wednesday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post $1.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, October 2nd.
A number of other analysts have also recently weighed in on BMY. Analysts at TheStreet reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note to investors on Friday, October 18th. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note to investors on Friday, October 11th. Finally, analysts at Zacks upgraded shares of Bristol-Myers Squibb from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $49.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.30.
Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.
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