Bristol-Myers Squibb Co. (BMY) to Post Q3 2016 Earnings of $0.64 Per Share, Jefferies Group Forecasts
Bristol-Myers Squibb Co. (NYSE:BMY) – Stock analysts at Jefferies Group issued their Q3 2016 EPS estimates for Bristol-Myers Squibb in a note issued to investors on Thursday. Jefferies Group analyst J. Holford forecasts that the brokerage will earn $0.64 per share for the quarter. Jefferies Group has a “Hold” rating and a $57.00 price objective on the stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2016 earnings at $2.62 EPS, FY2017 earnings at $2.76 EPS, FY2018 earnings at $3.02 EPS and FY2019 earnings at $3.96 EPS.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company posted $0.53 EPS. Bristol-Myers Squibb’s quarterly revenue was up 17.2% on a year-over-year basis.
A number of other research firms have also issued reports on BMY. Citigroup Inc. lowered 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. 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. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a report on Monday, July 25th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Wednesday, July 13th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Two equities 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 stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $69.31.
Bristol-Myers Squibb (NYSE:BMY) opened at 49.77 on Friday. The firm has a market capitalization of $83.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.74. Bristol-Myers Squibb has a 12 month low of $49.12 and a 12 month high of $77.12. The firm has a 50 day moving average price of $55.09 and a 200-day moving average price of $66.31.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
In related news, Director Lamberto Andreotti sold 21,600 shares of Bristol-Myers Squibb stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.
Several large investors have recently made changes to their positions in BMY. Williams Jones & Associates LLC boosted its stake in shares of Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock worth $25,315,000 after buying an additional 6,125 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $2,344,000. Aperio Group LLC boosted its stake in shares of Bristol-Myers Squibb by 5.4% in the first quarter. Aperio Group LLC now owns 696,173 shares of the biopharmaceutical company’s stock worth $44,472,000 after buying an additional 35,593 shares during the period. Telemus Capital LLC boosted its stake in shares of Bristol-Myers Squibb by 72.0% in the first quarter. Telemus Capital LLC now owns 9,470 shares of the biopharmaceutical company’s stock worth $605,000 after buying an additional 3,965 shares during the period. Finally, Granite Investment Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 21.7% in the first quarter. Granite Investment Partners LLC now owns 182,227 shares of the biopharmaceutical company’s stock worth $11,641,000 after buying an additional 32,440 shares during the period. 72.88% of the stock is owned by institutional investors and hedge funds.
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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