International Business Machines (NYSE:IBM) Reports Earnings, Beats Estimates of $0.03 per EPS

International Business Machines (NYSE:IBM – Get Rating) released its quarterly earnings data on Wednesday. The technology company reported earnings per share of $1.81 for the quarter, beating the consensus estimate of $1.78 by $0.03, reports RTT News. The company posted revenue of $14.11 billion in the quarter, versus a consensus estimate of $13.55 billion. International Business Machines posted a net margin of 8.72% and a return on equity of 43.52%. The company’s quarterly revenue increased 6.5% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $2.52.

International Commercial Machinery Stock Performance

Shares of NYSE:IBM traded down $0.43 in the midday session on Wednesday, hitting $122.51. The company’s stock had a trading volume of 4,994,006 shares, compared to its average trading volume of 5,097,027. International Business Machines has a fifty-two week low of $114.56 and a fifty-two week high. $144.73 weeks. The company has a debt ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The stock has a market capitalization of $110.65 billion, a price/earnings ratio of 19.89, a PEG ratio of 1.84 and a beta of 0.84. The stock’s 50-day simple moving average is $127.10 and its 200-day simple moving average is $132.05.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, September 10. Shareholders of record on Wednesday August 10 received a dividend of $1.65 per share. This represents a dividend of $6.60 on an annualized basis and a yield of 5.39%. The ex-dividend date was Tuesday August 9th. International Business Machines’ dividend payout ratio is 107.14%.

Analysts set new price targets

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus cut his price target on International Business Machines from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley cut its price target on International Business Machines from $155.00 to $152.00 and set an “overweight” rating on the stock in a Thursday, Oct. 6 report. StockNews.com launched coverage on the shares of International Business Machines in a research report on Wednesday, October 12. They issued a “buy” rating for the company. Bank of America lowered its price target on shares of International Business Machines from $155.00 to $145.00 in a research report Tuesday. Finally, Societe Generale cut its price target on International Business Machines to $129.00 in a Tuesday, September 13 report. One equity research analyst gave the stock a sell rating, three gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.80.

Insider Buying and Selling at International Business Machines

In other news, Director David N. Farr purchased 1,000 shares of the company in a trade that took place on Thursday, September 15. The shares were acquired at an average cost of $125.00 per share, with a total value of $125,000.00. Following completion of the transaction, the director now directly owns 1,000 shares of the company, valued at $125,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders own 0.04% of the shares of the company.

Institutional investors weigh on international trading machines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor LP increased its stake in International Business Machines to 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor LP now owns 257,335 shares of the technology company worth $33,459,000 after acquiring an additional 127,093 shares last quarter. Roundview Capital LLC acquired a new position in International Business Machines in the first quarter worth approximately $203,000. Sei Investments Co. increased its holdings of International Business Machines shares by 35.7% in the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company worth $23,157,000 after buying an additional 46,756 shares last quarter. Candriam Luxembourg SCA increased its position in International Business Machines by 1.9% in the 1st quarter. Candriam Luxembourg SCA now owns 95,662 shares of the tech company valued at $12,438,000 after purchasing an additional 1,821 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holding in shares of International Business Machines by 1.5% in the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company valued at $49,698,000 after buying 5,506 additional shares in the last quarter. Institutional investors hold 55.52% of the company’s shares.

International Business Machines Company Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The Company operates through four business segments: Software, Consulting, Infrastructure and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open source solution; enterprise automation software, AIOps and management, integration and application servers; data and artificial intelligence solutions; and security software and services for threats, data and identity.

See also

Earnings history for International Business Machines (NYSE:IBM)

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