International Business Machines (NYSE:IBM) Issues Earnings Results, Beats Expectations By $0.05 EPS

International Business Machines (NYSE:IBM) issued its earnings results on Wednesday. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.05, Briefing.com reports. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share.

International Business Machines Trading Down 5.6 %

NYSE IBM traded down $13.05 during mid-day trading on Thursday, hitting $219.70. The company’s stock had a trading volume of 3,620,601 shares, compared to its average volume of 4,188,595. The firm has a market capitalization of $201.82 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a 52-week low of $136.33 and a 52-week high of $237.37. The stock’s fifty day simple moving average is $214.67 and its two-hundred day simple moving average is $190.05.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Ratings Changes

A number of analysts have commented on IBM shares. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $208.65.

International Business Machines Company Profile

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.