Jefferies Group Research Analysts Lower Earnings Estimates for Bristol-Myers Squibb Co (BMY)

Bristol-Myers Squibb Co (NYSE:BMY) – Equities researchers at Jefferies Group cut their FY2018 earnings per share estimates for shares of Bristol-Myers Squibb in a report issued on Tuesday. Jefferies Group analyst J. Holford now expects that the biopharmaceutical company will earn $3.12 per share for the year, down from their prior estimate of $3.19. Jefferies Group has a “Hold” rating and a $72.00 price target on the stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2019 earnings at $3.76 EPS, FY2020 earnings at $4.30 EPS and FY2022 earnings at $5.69 EPS.

Several other research firms have also recently weighed in on BMY. Barclays boosted their price target on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Thursday, October 12th. Leerink Swann boosted their price target on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Citigroup boosted their price target on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Vetr upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 price target for the company in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $65.11.

Bristol-Myers Squibb (BMY) traded up $0.44 during mid-day trading on Wednesday, hitting $62.28. The stock had a trading volume of 7,490,000 shares, compared to its average volume of 5,940,000. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $66.10. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $101,930.00, a PE ratio of 24.52, a P/E/G ratio of 2.18 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be issued a $0.40 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s payout ratio is presently 62.99%.

In other Bristol-Myers Squibb news, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore R. Samuels II purchased 4,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $62.30 per share, with a total value of $249,200.00. Following the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BMY. Vanguard Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.3% in the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after acquiring an additional 333,685 shares during the period. BlackRock Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.4% in the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after acquiring an additional 2,367,864 shares during the period. Dodge & Cox boosted its stake in shares of Bristol-Myers Squibb by 1.6% in the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after acquiring an additional 459,271 shares during the period. Jennison Associates LLC boosted its stake in shares of Bristol-Myers Squibb by 16.2% in the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Bristol-Myers Squibb by 3.9% in the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after acquiring an additional 910,496 shares during the period. 69.74% of the stock is owned by institutional investors and hedge funds.

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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.

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

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