International Business Machines (NYSE:IBM) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

International Business Machines (NYSE:IBM) issued its quarterly earnings results on Wednesday. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15, Zacks reports. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%.

International Business Machines Price Performance

Shares of NYSE IBM traded up $3.47 during midday trading on Wednesday, hitting $229.13. The stock had a trading volume of 6,703,071 shares, compared to its average volume of 3,835,314. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines has a 1 year low of $162.62 and a 1 year high of $239.35. The company has a market capitalization of $211.87 billion, a PE ratio of 33.35, a P/E/G ratio of 4.78 and a beta of 0.74. The stock has a 50 day simple moving average of $224.95 and a 200-day simple moving average of $213.44.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $220.40.

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.