International Business Machines (NYSE:IBM – Get Free Report) issued its quarterly earnings results on Wednesday. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27, Briefing.com reports. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS.
International Business Machines Price Performance
Shares of IBM stock traded up $10.64 during trading on Thursday, hitting $194.66. The company had a trading volume of 6,906,380 shares, compared to its average volume of 4,426,019. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock’s 50-day moving average is $173.83 and its two-hundred day moving average is $178.81. The stock has a market capitalization of $178.81 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71. International Business Machines has a 52 week low of $135.87 and a 52 week high of $199.18.
International Business Machines Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.43%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is 75.65%.
Analysts Set New Price Targets
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About International Business Machines
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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