Bristol-Myers Squibb (BMY) To Go Ex-Dividend on July 5th

Bristol-Myers Squibb (NYSE:BMY) declared a quarterly dividend on Tuesday, June 18th, RTT News reports. Investors of record on Friday, July 5th will be paid a dividend of 0.60 per share by the biopharmaceutical company on Thursday, August 1st. This represents a $2.40 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Friday, July 5th.

Bristol-Myers Squibb has decreased its dividend by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $7.06 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 34.0%.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $40.46 on Wednesday. Bristol-Myers Squibb has a 12-month low of $39.63 and a 12-month high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $42.81 and its 200-day simple moving average is $48.04.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the previous year, the company posted $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

BMY has been the topic of several recent analyst reports. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Company Profile

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.