How to put $100 into your retirement fund every month with Bristol-Myers Squibb shares

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Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops and markets medicines for various therapeutic areas such as cardiovascular, cancer and immune disorders. It will report its Q3 2024 earnings on October 24. Wall Street analysts expect the company to post EPS of $1.59, down from $2 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $11.29 billion, up from $10.97 billion in the year-ago period.

The 52-week price range for Bristol-Myers Squibb stock was $39.35 to $63.41.

Bristol-Myers Squibb’s dividend yield is 4.99%. It has paid $2.40 in dividends over the past 12 months.

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The latest information about Bristol-Myers Squibb

On July 26, Bristol-Myers Squibb reported its Q2 2024 earnings, posting revenue of $12.20 billion, beating the consensus estimate of $11.55 billion. This was an increase of 9% year-over-year, or 11% when adjusted for currency impact, driven primarily by the growth portfolio and Eliquis.

Worldwide growth portfolio revenue increased to $5.6 billion compared to $4.7 billion a year ago, representing an increase of 18% on a reported basis or 21% on an adjusted basis for the currency impact, as reported by Benzinga.

Growth portfolio revenue was driven primarily by higher demand for Opdivo, Reblozyl, Camzyos and Opdualag, partially offset by Abecma.

“Our second quarter results reflect progress on our strategy to position BMS for long-term sustainable growth. As we move into the second half of the year, we remain focused on prioritizing opportunities with the greatest potential for growth and patient impact, including the anticipated US. With the launch of KarXT we are also driving operational excellence across the company by becoming more agile and strengthening execution,” said Christopher Boerner, Chairman of the Board and CEO.

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Bristol-Myers Squibb revised its 2024 adjusted EPS guidance to $0.60-$0.90, compared to the previous guidance of $0.40-$0.70 and the consensus of $0.51.

Following the earnings announcement, several Wall Street analysts adjusted their price targets on the stock. Check out this recent article by Benzinga for key takeaways from Bristol-Myers Squibb analyst ratings over the past three months.

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How to Earn $100 a Month as a Bristol-Myers Squibb Investor?

If you want to earn $100 per month—$1,200 annually—from Bristol-Myers Squibb dividends, your investment value must be about $24,048, or about 500 shares at $48.11 each.

Understanding Dividend Yield Calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (4.99%). So $1,200 / 0.0499 = $24,048 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the current share price.

Dividend yield can change over time due to fluctuating stock prices and constant dividend payments.

For example, suppose a stock that pays $2 in annual dividends has a price of $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield falls to 3.33% ($2/$60). A drop in the stock price to $40 will have the opposite effect and increase the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find Bristol-Myers Squibb stock an attractive option for earning a steady income of $100 per month by holding 500 shares. There could be more upside as investors benefit from the company’s consistent dividend hikes. Bristol-Myers Squibb has raised its dividend consecutively for the past 17 years.

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This article How to put $100 into your retirement fund every month with Bristol-Myers Squibb stock originally appeared on Benzinga.com