International Business Machines (NYSE:IBM) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

by · The Markets Daily

International Business Machines (NYSE:IBM – Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03, Briefing.com reports. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the firm posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year.

International Business Machines Trading Down 1.7 %

International Business Machines stock traded down $3.82 during midday trading on Friday, reaching $214.57. 8,480,090 shares of the stock traded hands, compared to its average volume of 4,245,906. The firm has a market cap of $197.10 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a 50-day simple moving average of $215.16 and a two-hundred day simple moving average of $190.25. International Business Machines has a 12-month low of $141.58 and a 12-month high of $237.37.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $208.12.

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About International Business Machines

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International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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