Bristol-Myers Squibb’s Neutral Rating Reaffirmed at Zacks (BMY)
Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday. They currently have a $50.00 target price on the stock. Zacks‘s target price indicates a potential upside of 4.52% from the company’s current price.
Zacks’ analyst wrote, “Bristol-Myers’ first quarter 2014 adjusted earnings of $0.46 per share beat the Zacks Consensus Estimate by $0.02. Adjusted earnings were 12% above the year-ago figure due to lower costs. Net sales (including the diabetes business) however slipped 1% to $3.8 billion. Key oncology drugs performed very well in the quarter. Bristol-Myers has been trying to offset the declining sales of some of its important products by bringing in new products. We are positive on Bristol-Myers’ decision to sell its underperforming diabetes portfolio. We are also impressed by the company’s efforts to develop its pipeline. We believe that the stock is fairly valued at current levels with limited scope for appreciation and hence retain our Neutral recommendation.”
Bristol-Myers Squibb (NYSE:BMY) traded down 0.47% on Friday, hitting $47.615. 9,116,987 shares of the company’s stock traded hands. Bristol-Myers Squibb has a one year low of $41.11 and a one year high of $57.49. The stock has a 50-day moving average of $48.95 and a 200-day moving average of $51.45. The company has a market cap of $78.906 billion and a P/E ratio of 27.65. Bristol-Myers Squibb also was the target of unusually large options trading on Thursday. Traders acquired 17,867 put options on the stock. This represents an increase of 218% compared to the average daily volume of 5,619 put options.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.03. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post $1.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, July 1st.
BMY has been the subject of a number of other recent research reports. Analysts at Edward Jones reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Thursday, June 5th. They now have a $46.59 price target on the stock, down previously from $59.00. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Bristol-Myers Squibb in a research note on Thursday, May 15th. They now have a $60.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus target price of $54.97.
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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