Bristol-Myers Squibb Co (BMY) Forecasted to Earn FY2018 Earnings of $3.30 Per Share

Bristol-Myers Squibb Co (NYSE:BMY) – Analysts at SunTrust Banks lowered their FY2018 earnings estimates for Bristol-Myers Squibb in a note issued to investors on Wednesday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will earn $3.30 per share for the year, down from their prior forecast of $3.49. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2019 earnings at $4.16 EPS and FY2020 earnings at $5.13 EPS.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Citigroup raised their target price on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Vetr cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 target price for the company. in a research report on Tuesday, January 16th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Monday, December 11th. Finally, Credit Suisse Group set a $62.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $65.58.

Bristol-Myers Squibb (NYSE BMY) opened at $62.70 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $102,621.09, a price-to-earnings ratio of 106.27, a P/E/G ratio of 1.94 and a beta of 1.09. Bristol-Myers Squibb has a 1-year low of $51.52 and a 1-year high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a return on equity of 33.68% and a net margin of 4.85%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS.

Several large investors have recently made changes to their positions in BMY. Chicago Partners Investment Group LLC lifted its position in shares of Bristol-Myers Squibb by 45.2% in the second quarter. Chicago Partners Investment Group LLC now owns 6,528 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 2,033 shares during the last quarter. Palladium Partners LLC lifted its position in shares of Bristol-Myers Squibb by 1.2% in the second quarter. Palladium Partners LLC now owns 65,980 shares of the biopharmaceutical company’s stock worth $3,676,000 after buying an additional 770 shares during the last quarter. Peak Asset Management LLC lifted its position in shares of Bristol-Myers Squibb by 6.4% in the second quarter. Peak Asset Management LLC now owns 14,658 shares of the biopharmaceutical company’s stock worth $817,000 after buying an additional 877 shares during the last quarter. CKW Financial Group lifted its position in shares of Bristol-Myers Squibb by 129.5% in the second quarter. CKW Financial Group now owns 2,983 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 1,683 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its position in shares of Bristol-Myers Squibb by 0.8% in the second quarter. Goelzer Investment Management Inc. now owns 76,002 shares of the biopharmaceutical company’s stock worth $4,235,000 after buying an additional 600 shares during the last quarter. 69.56% of the stock is owned by institutional investors.

In related news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodore R. Samuels II acquired 4,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average cost of $62.30 per share, with a total value of $249,200.00. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by company insiders.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a dividend of $0.40 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 271.19%.

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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.

Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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