FY2024 Earnings Forecast for BMY Issued By Cantor Fitzgerald

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Bristol-Myers Squibb in a research note issued to investors on Tuesday, February 4th. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will post earnings per share of $0.93 for the year, up from their previous estimate of $0.92. Cantor Fitzgerald has a “Neutral” rating and a $55.00 price target on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $6.65 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%.

Several other analysts have also issued reports on BMY. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Morgan Stanley upped their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $57.43 on Wednesday. The company has a 50-day moving average price of $57.65 and a 200-day moving average price of $53.63. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $116.47 billion, a P/E ratio of -16.00, a PEG ratio of 2.10 and a beta of 0.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management grew its holdings in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the third quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its position 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 purchasing an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.