Bristol-Myers Squibb Co (NYSE:BMY) declared a quarterly dividend on Thursday, June 11th, Zacks reports. Stockholders of record on Monday, July 6th will be given a dividend of 0.45 per share by the biopharmaceutical company on Monday, August 3rd. This represents a $1.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, July 2nd.
Bristol-Myers Squibb has raised its dividend by an average of 90.7% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Bristol-Myers Squibb has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.5%.
BMY opened at $57.80 on Tuesday. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $68.34. The firm has a market capitalization of $130.20 billion, a PE ratio of 71.36, a PEG ratio of 1.11 and a beta of 0.73. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $59.82 and its 200 day moving average price is $60.91.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.23. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.04 billion. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The business’s revenue was up 82.1% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. As a group, analysts predict that Bristol-Myers Squibb will post 6.15 earnings per share for the current fiscal year.
BMY has been the subject of several analyst reports. TheStreet cut Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a report on Monday, April 13th. Bank of America reissued a “buy” rating and issued a $80.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, May 15th. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Thursday, April 16th. William Blair reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Monday, June 1st. Finally, Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $68.00 to $88.00 in a research report on Tuesday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $68.00.
In other Bristol-Myers Squibb news, SVP Adam Dubow sold 3,200 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.01, for a total transaction of $195,232.00. Following the sale, the senior vice president now directly owns 16,086 shares in the company, valued at $981,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Louis S. Schmukler sold 25,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the sale, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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