Bristol-Myers Squibb Company Expected to Earn Q2 2017 Earnings of $0.74 Per Share (NYSE:BMY)
Bristol-Myers Squibb Company (NYSE:BMY) – Stock analysts at SunTrust Banks boosted their Q2 2017 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a note issued to investors on Monday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will earn $0.74 per share for the quarter, up from their previous forecast of $0.73. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s Q3 2017 earnings at $0.70 EPS and FY2017 earnings at $2.96 EPS.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Bristol-Myers Squibb had a return on equity of 31.86% and a net margin of 24.22%. Bristol-Myers Squibb’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share.
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A number of other brokerages have also recently commented on BMY. Deutsche Bank AG set a $55.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 target price on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $63.26.
Bristol-Myers Squibb (BMY) opened at 54.79 on Tuesday. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $77.12. The stock has a market capitalization of $90.26 billion, a PE ratio of 19.03 and a beta of 1.16. The company’s 50-day moving average price is $54.58 and its 200 day moving average price is $55.03.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 54.17%.
A number of hedge funds have recently made changes to their positions in BMY. American National Bank increased its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Welch Investments LLC increased its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $116,000. Blue Chip Partners Inc. increased its stake in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares during the period. 69.63% of the stock is currently owned by institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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