FY2017 EPS Estimates for Bristol-Myers Squibb Company Reduced by Analyst (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) – Investment analysts at Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report released on Monday. Jefferies Group analyst J. Holford now anticipates that the biopharmaceutical company will earn $2.98 per share for the year, down from their previous forecast of $3.01. Jefferies Group currently has a “Hold” rating and a $72.00 target price on the stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $3.19 EPS, FY2019 earnings at $3.86 EPS, FY2020 earnings at $4.34 EPS and FY2021 earnings at $4.97 EPS.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. ILLEGAL ACTIVITY WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/18/fy2017-eps-estimates-for-bristol-myers-squibb-company-reduced-by-analyst-bmy.html.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group set a $58.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday, August 16th. Citigroup Inc. lifted their price target on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Leerink Swann cut their price target on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, BMO Capital Markets reiterated an “underperform” rating and set a $47.00 price target (down previously from $51.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $63.79.
A number of hedge funds have recently modified their holdings of BMY. Renaissance Technologies LLC raised its holdings in Bristol-Myers Squibb by 108.5% during the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after acquiring an additional 7,020,200 shares during the period. Franklin Resources Inc. raised its holdings in Bristol-Myers Squibb by 185.2% during the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after acquiring an additional 3,960,191 shares during the period. Janus Henderson Group PLC raised its holdings in Bristol-Myers Squibb by 2,990.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after acquiring an additional 3,516,536 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after acquiring an additional 3,323,649 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Bristol-Myers Squibb by 18.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after acquiring an additional 2,451,390 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.43%. Bristol-Myers Squibb’s payout ratio is 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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