International Business Machines (NYSE:IBM) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS


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International Business Machines (NYSE:IBM) issued its earnings results on Sunday. The technology company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.14, MarketWatch Earnings reports. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The company had revenue of $17.73 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the company earned $1.84 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year.

Shares of International Business Machines stock traded up $5.04 during midday trading on Tuesday, hitting $138.16. 15,469,753 shares of the company were exchanged, compared to its average volume of 6,549,186. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $130.49 and a 200-day simple moving average of $124.08. International Business Machines has a 52 week low of $105.92 and a 52 week high of $139.77. The firm has a market cap of $123.46 billion, a P/E ratio of 15.65, a PEG ratio of 3.36 and a beta of 1.25.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 10th were paid a $1.63 dividend. The ex-dividend date was Tuesday, February 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.72%. International Business Machines’s payout ratio is 50.90%.

A hedge fund recently bought a new stake in International Business Machines stock. OLD Mission Capital LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,022 shares of the technology company’s stock, valued at approximately $246,000. Institutional investors and hedge funds own 55.67% of the company’s stock.

A number of brokerages recently weighed in on IBM. BMO Capital Markets boosted their price objective on shares of International Business Machines from $138.00 to $150.00 and gave the company a “market perform” rating in a research report on Tuesday. Credit Suisse Group upped their target price on International Business Machines from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley raised their price target on International Business Machines from $150.00 to $152.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Stifel Nicolaus increased their target price on International Business Machines from $147.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $143.33.

About International Business Machines

International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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Earnings History for International Business Machines (NYSE:IBM)

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