Bristol-Myers Squibb Co (NYSE:BMY) Expected to Announce Earnings of $0.75 Per Share
Analysts predict that Bristol-Myers Squibb Co (NYSE:BMY) will post earnings per share of $0.75 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Bristol-Myers Squibb’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.68. Bristol-Myers Squibb reported earnings of $0.77 per share during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The firm is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Bristol-Myers Squibb will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $3.00. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.08 per share, with EPS estimates ranging from $2.77 to $3.23. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Bristol-Myers Squibb.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 17.92% and a return on equity of 25.24%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year.
Several research analysts have weighed in on the stock. BidaskClub raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.33 price target on the stock in a research report on Wednesday, July 26th. BMO Capital Markets cut shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a research report on Wednesday, May 3rd. Finally, Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.33.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after buying an additional 1,223,457 shares during the period. Jennison Associates LLC raised its position in shares of Bristol-Myers Squibb by 5.4% in the second quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock worth $1,288,179,000 after buying an additional 1,184,652 shares during the period. Dodge & Cox acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,316,815,000. Ameriprise Financial Inc. raised its position in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after buying an additional 2,451,390 shares during the period. Finally, Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $770,318,000. Institutional investors and hedge funds own 69.79% of the company’s stock.
Bristol-Myers Squibb (NYSE BMY) traded up 1.08% during midday trading on Tuesday, hitting $56.91. 7,887,217 shares of the stock traded hands. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $63.65. The firm has a market cap of $93.33 billion, a P/E ratio of 20.79 and a beta of 1.17. The company’s 50-day moving average is $55.66 and its 200 day moving average is $54.52.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.74%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
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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