Equities analysts forecast that Bristol-Myers Squibb Co (NYSE:BMY) will announce sales of $5.42 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Bristol-Myers Squibb’s earnings. The highest sales estimate is $5.45 billion and the lowest is $5.37 billion. Bristol-Myers Squibb reported sales of $5.14 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The company is expected to announce its next earnings results before the market opens on Thursday, July 26th.
According to Zacks, analysts expect that Bristol-Myers Squibb will report full year sales of $21.75 billion for the current fiscal year, with estimates ranging from $21.63 billion to $21.91 billion. For the next fiscal year, analysts forecast that the business will report sales of $23.19 billion per share, with estimates ranging from $22.59 billion to $23.90 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Bristol-Myers Squibb.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.25 billion. Bristol-Myers Squibb had a return on equity of 37.56% and a net margin of 4.37%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS.
A number of brokerages have recently issued reports on BMY. Jefferies Financial Group set a $72.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, February 26th. TheStreet downgraded Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research report on Thursday, March 8th. DZ Bank downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Argus dropped their price target on Bristol-Myers Squibb from $75.00 to $66.43 and set a “buy” rating for the company in a research report on Wednesday, March 21st. Finally, JPMorgan Chase & Co. set a $75.00 price target on Bristol-Myers Squibb and gave the company an “overweight” rating in a research report on Tuesday, March 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.84.
In related news, Director Dinesh C. Paliwal acquired 4,770 shares of the stock in a transaction on Monday, April 30th. The stock was purchased at an average price of $52.40 per share, for a total transaction of $249,948.00. Following the completion of the transaction, the director now owns 8,027 shares of the company’s stock, valued at approximately $420,614.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BMY. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $101,000. Institutional & Family Asset Management LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $106,000. Delphi Private Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $108,000. Centerpoint Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 373.1% during the first quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,399 shares during the period. Finally, NuWave Investment Management LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $119,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.
Shares of BMY opened at $55.14 on Monday. The stock has a market cap of $90.13 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.44 and a beta of 0.95. The company has a quick ratio of 1.39, a current ratio of 1.52 and a debt-to-equity ratio of 0.45. Bristol-Myers Squibb has a 12-month low of $49.96 and a 12-month high of $70.05.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Friday, July 6th will be given a $0.40 dividend. The ex-dividend date is Thursday, July 5th. This represents a $1.60 annualized dividend and a yield of 2.90%. Bristol-Myers Squibb’s payout ratio is currently 53.16%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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