What is Zacks Research’s Forecast for BMY FY2024 Earnings?

Bristol-Myers Squibb (NYSE:BMY) – Research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Bristol-Myers Squibb in a note issued to investors on Thursday, November 14th. Zacks Research analyst E. Bagri now forecasts that the biopharmaceutical company will post earnings per share of $0.88 for the year, up from their prior estimate 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.

A number of other equities analysts have also recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $58.21 on Monday. The business has a 50 day moving average of $53.08 and a 200 day moving average of $47.47. The company has a market capitalization of $118.06 billion, a price-to-earnings ratio of -16.21, a PEG ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. 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) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 EPS.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.12%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently added to or reduced their stakes in BMY. Bahl & Gaynor Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2.7% during the first quarter. Bahl & Gaynor Inc. now owns 44,568 shares of the biopharmaceutical company’s stock valued at $2,417,000 after purchasing an additional 1,183 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of Bristol-Myers Squibb by 15.1% during the first quarter. UniSuper Management Pty Ltd now owns 215,898 shares of the biopharmaceutical company’s stock valued at $11,708,000 after purchasing an additional 28,373 shares in the last quarter. Delta Asset Management LLC TN lifted its holdings in shares of Bristol-Myers Squibb by 11.5% during the first quarter. Delta Asset Management LLC TN now owns 86,361 shares of the biopharmaceutical company’s stock valued at $4,683,000 after purchasing an additional 8,897 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Bristol-Myers Squibb by 16.3% during the first quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company’s stock valued at $8,625,000 after purchasing an additional 22,286 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 54.7% during the first quarter. Lake Street Advisors Group LLC now owns 13,530 shares of the biopharmaceutical company’s stock valued at $734,000 after purchasing an additional 4,784 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

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.