$5.15 Billion in Sales Expected for Bristol-Myers Squibb Company (BMY) This Quarter
Wall Street brokerages expect Bristol-Myers Squibb Company (NYSE:BMY) to post sales of $5.15 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Bristol-Myers Squibb’s earnings, with the lowest sales estimate coming in at $5.10 billion and the highest estimate coming in at $5.19 billion. Bristol-Myers Squibb reported sales of $4.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Bristol-Myers Squibb will report full-year sales of $5.15 billion for the current financial year, with estimates ranging from $20.30 billion to $20.69 billion. For the next fiscal year, analysts forecast that the company will post sales of $20.97 billion per share, with estimates ranging from $20.01 billion to $21.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Bristol-Myers Squibb.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price on the stock. in a research report on Tuesday, August 22nd. Deutsche Bank AG set a $55.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, July 17th. 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, Credit Suisse Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.31.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.5125% on Tuesday, hitting $58.8802. 1,740,493 shares of the stock were exchanged. The company has a 50-day moving average of $56.20 and a 200 day moving average of $55.23. The firm has a market cap of $96.56 billion, a P/E ratio of 21.5048 and a beta of 1.17. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $60.45.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were paid 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 2.66%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
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In related news, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LVM Capital Management Ltd. MI raised its stake in shares of Bristol-Myers Squibb by 3.7% in the first quarter. LVM Capital Management Ltd. MI now owns 13,837 shares of the biopharmaceutical company’s stock valued at $752,000 after buying an additional 500 shares during the period. P.R. Herzig & Co. Inc. increased its stake in shares of Bristol-Myers Squibb by 35.4% in the first quarter. P.R. Herzig & Co. Inc. now owns 32,344 shares of the biopharmaceutical company’s stock valued at $1,759,000 after buying an additional 8,451 shares in the last quarter. Pennsylvania Trust Co increased its stake in shares of Bristol-Myers Squibb by 1.4% in the first quarter. Pennsylvania Trust Co now owns 134,795 shares of the biopharmaceutical company’s stock valued at $7,330,000 after buying an additional 1,900 shares in the last quarter. SOL Capital Management CO increased its stake in shares of Bristol-Myers Squibb by 7.0% in the first quarter. SOL Capital Management CO now owns 23,572 shares of the biopharmaceutical company’s stock valued at $1,282,000 after buying an additional 1,550 shares in the last quarter. Finally, Murphy Capital Management Inc. increased its stake in shares of Bristol-Myers Squibb by 83.2% in the first quarter. Murphy Capital Management Inc. now owns 82,544 shares of the biopharmaceutical company’s stock valued at $4,488,000 after buying an additional 37,481 shares in the last quarter. 68.78% of the stock is 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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