Despite an expected dip in profit, analysts are generally optimistic about Bristol Myers Squibb as it prepares to reports its second-quarter earnings on Thursday, July 23, 2015. The consensus earnings per share estimate is 34 cents per share.
The consensus estimate hasn't changed over the past month, but it's down from three months ago when it was 38 cents. Analysts are projecting earnings of $1.73 per share for the fiscal year. Analysts look for revenue to decrease 5% year-over-year to $3.70 billion for the quarter, after being $3.89 billion a year ago. For the year, revenue is expected to come in at $15.38 billion.
The rise in profit in the first quarter came after profit dropped in the previous quarter. In the first quarter, net income rose more than threefold to $1.19 billion. In the fourth quarter, net income fell 98%.
Over the last four quarters, revenue has fallen an average of 2% year-over-year. The biggest drop came in the fourth quarter, when revenue fell 4% from the year-earlier quarter.
The majority of analysts (60%) rate Bristol Myers as a buy. This compares favorably to the analyst ratings of nine similar companies, which average 56% buys.
Earnings estimates provided by Zacks.
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