Brokers Offer Predictions for Bristol-Myers Squibb Co.’s FY2019 Earnings (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY) – Stock analysts at SunTrust Banks cut their FY2019 earnings estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Tuesday. SunTrust Banks analyst J. Boris now anticipates that the brokerage will post earnings of $4.22 per share for the year, down from their previous estimate of $4.92. SunTrust Banks has a “Hold” rating and a $62.00 price objective on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2020 earnings at $4.81 EPS.
Other equities analysts have also issued research reports about the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Wednesday, July 13th. Berenberg Bank restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Citigroup Inc. reduced their target price on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded down 0.94% during midday trading on Friday, reaching $49.77. The company had a trading volume of 13,842,582 shares. Bristol-Myers Squibb has a 12-month low of $49.12 and a 12-month high of $77.12. The stock has a 50-day moving average price of $55.34 and a 200 day moving average price of $66.40. The company has a market capitalization of $83.16 billion, a PE ratio of 29.11 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share.
Hedge funds have recently modified their holdings of the stock. WESPAC Advisors SoCal LLC raised its stake in shares of Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 75 shares in the last quarter. Perkins Coie Trust Co raised its stake in shares of Bristol-Myers Squibb by 3.1% in the third quarter. Perkins Coie Trust Co now owns 2,239 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 68 shares in the last quarter. Acropolis Investment Management LLC raised its stake in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Acropolis Investment Management LLC now owns 2,815 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 495 shares in the last quarter. Jolley Asset Management LLC raised its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $163,000. 72.88% of the stock is owned by institutional investors and hedge funds.
In related news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the sale, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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