International Business Machines Corporation (NYSE:IBM) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of International Business Machines Corporation (NYSE:IBM) from a hold rating to a sell rating in a research note released on Tuesday, October 17th.

According to Zacks, “IBM’s focus on “Strategic Imperatives” is anticipated to drive top-line growth in the long haul. However, third-quarter revenue guidance reflects negative impact from seasonality, which is anticipated to be partially neutralized by higher contributions from the new Mainframe z14 product and services contracts. Despite sluggish revenue growth projections in the near term, IBM maintained 2017 earnings guidance suggesting improving strength in cloud, mobile, security and social products as well as cost savings. The company’s expanding footprint in the rapidly growing blockchain market is positive in our view. Moreover, IBM’s solid patent portfolio is a key catalyst. On a year-to-date basis, the company has outperformed the industry it belongs to. However, intensifying competition in most of the markets remains a major concern. Notably, estimates have been going down ahead of the company's Q3 earnings release.”

Other equities research analysts also recently issued reports about the stock. UBS AG reissued a hold rating and set a $152.00 target price on shares of International Business Machines Corporation in a research report on Tuesday, September 5th. BidaskClub raised shares of International Business Machines Corporation from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Morgan Stanley restated an overweight rating and set a $192.00 price target on shares of International Business Machines Corporation in a report on Wednesday, August 23rd. Vetr upgraded shares of International Business Machines Corporation from a hold rating to a buy rating and set a $150.68 target price on the stock in a research note on Monday, July 31st. Finally, Drexel Hamilton reiterated a buy rating and issued a $200.00 target price on shares of International Business Machines Corporation in a research note on Tuesday, July 18th. Eight analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. International Business Machines Corporation currently has a consensus rating of Hold and a consensus target price of $158.90.

Shares of International Business Machines Corporation (IBM) traded down $0.64 during trading on Tuesday, reaching $150.94. 2,843,731 shares of the company’s stock were exchanged, compared to its average volume of 5,170,000. The firm has a market capitalization of $139,430.00, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.22 and a beta of 0.94. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. International Business Machines Corporation has a 1 year low of $139.13 and a 1 year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.02. International Business Machines Corporation had a net margin of 14.43% and a return on equity of 68.68%. The company had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.63 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. International Business Machines Corporation’s revenue was down .4% compared to the same quarter last year. research analysts expect that International Business Machines Corporation will post 13.8 earnings per share for the current year.

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International Business Machines Corporation declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 31st that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be given a $1.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $6.00 annualized dividend and a yield of 3.98%. International Business Machines Corporation’s dividend payout ratio is presently 50.08%.

Several large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in shares of International Business Machines Corporation by 35.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 481,970 shares of the technology company’s stock valued at $69,924,000 after buying an additional 124,843 shares in the last quarter. Rhumbline Advisers lifted its position in shares of International Business Machines Corporation by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 1,535,376 shares of the technology company’s stock valued at $222,752,000 after buying an additional 35,803 shares in the last quarter. Advisor Group Inc. lifted its position in shares of International Business Machines Corporation by 7.2% during the 3rd quarter. Advisor Group Inc. now owns 77,193 shares of the technology company’s stock valued at $11,205,000 after buying an additional 5,202 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of International Business Machines Corporation by 1.6% during the 3rd quarter. New York State Common Retirement Fund now owns 2,427,958 shares of the technology company’s stock valued at $352,248,000 after buying an additional 38,698 shares in the last quarter. Finally, AllSquare Wealth Management LLC purchased a new position in shares of International Business Machines Corporation during the 3rd quarter valued at approximately $597,000. Hedge funds and other institutional investors own 58.35% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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