Bristol-Myers Squibb (NYSE:BMY) Issues Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Bristol-Myers Squibb (NYSE:BMY) announced its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.87 by $0.14, Bloomberg Earnings reports. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Bristol-Myers Squibb updated its FY18 guidance to $3.55-3.65 EPS.

Bristol-Myers Squibb opened at $59.31 on Friday, Marketbeat reports. The stock has a market capitalization of $97.30 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.50 and a beta of 1.02. Bristol-Myers Squibb has a 52 week low of $49.96 and a 52 week high of $70.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.28.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Friday, July 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

A number of analysts have recently issued reports on the stock. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Credit Suisse Group lifted their price objective on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Bristol-Myers Squibb in a report on Thursday, June 21st. Atlantic Securities upgraded shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 target price on the stock in a report on Wednesday. Finally, Barclays lowered their target price on shares of Bristol-Myers Squibb from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, April 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.11.

A number of hedge funds have recently bought and sold shares of the stock. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Bristol-Myers Squibb during the first quarter worth about $101,000. Institutional & Family Asset Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth about $106,000. Centerpoint Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 373.1% in 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. Landaas & Co. WI ADV acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $131,000. Finally, Prentiss Smith & Co. Inc. acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $143,000. 71.39% of the stock is owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: Understanding Price to Earnings Ratio (PE)

Earnings History for Bristol-Myers Squibb (NYSE:BMY)

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