What is Zacks Research's Estimate for BMY FY2024 Earnings?

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report released on Thursday, November 14th. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will post earnings of $0.88 per share for the year, up from their prior forecast of $0.77. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $0.93 per share. Zacks Research also issued estimates for Bristol-Myers Squibb's Q4 2024 earnings at $1.41 EPS, Q2 2025 earnings at $1.92 EPS, Q3 2025 earnings at $1.72 EPS, Q4 2025 earnings at $1.60 EPS, Q3 2026 earnings at $1.57 EPS and FY2026 earnings at $5.96 EPS.

Several other research firms have also commented on BMY. Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa America raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a "market perform" rating and a $56.00 price objective for the company. Finally, Citigroup increased their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 0.7 %

BMY stock traded up $0.40 during midday trading on Monday, hitting $56.62. The stock had a trading volume of 2,790,044 shares, compared to its average volume of 14,410,852. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The firm has a market cap of $114.84 billion, a PE ratio of -15.65, a price-to-earnings-growth ratio of 15.23 and a beta of 0.44. The company's 50-day moving average price is $52.73 and its 200 day moving average price is $47.27. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.00 EPS.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio is presently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the business. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at $25,000. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.