Third quarter 2022 earnings estimate for International Business Machines Co. released by Jefferies Financial Group (NYSE:IBM)


International Business Machines Co. (NYSE:IBM – Get Rating) – Equity researchers at Jefferies Financial Group dropped their third-quarter 2022 earnings estimates for International Business Machines in a note to investors on Tuesday, July 19. Jefferies Financial Group analyst K. Mcnealy now expects the technology company to post earnings of $2.33 per share for the quarter, down from its previous forecast of $2.67. The consensus estimate for International Business Machines’ current annual earnings is $9.60 per share. Jefferies Financial Group also released International Business Machines earnings estimates for the third quarter of 2023 at $2.79 EPS.

IBM has been the subject of a number of other research reports. BMO Capital Markets cut its target price on shares of International Business Machines from $152.00 to $148.00 in a report released Tuesday. Bank of America raised its price target on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a Wednesday, April 20, report. Morgan Stanley lowered its price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a report released Tuesday. Credit Suisse Group lowered its price target on shares of International Business Machines from $166.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Tigress Financial raised its price target on shares of International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a Thursday, April 21 report. One equity research analyst has assigned the stock a sell rating, three have assigned a hold rating and seven have assigned the stock a buy rating. Based on MarketBeat data, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $146.10.

International Commercial Machinery Stock Performance

International Business Machines stock opened Friday at $128.25. The company’s 50-day simple moving average is $137.29 and its 200-day simple moving average is $133.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt ratio of 2.28. The company has a market capitalization of $115.35 billion, a PE ratio of 20.82, a price-to-earnings growth ratio of 1.93, and a beta of 0.93. International Business Machines has a 1 year minimum of $114.56 and a 1 year maximum of $146.00.

International Business Machines (NYSE:IBM – Get Rating) last released its results on Monday, July 18. The technology company reported earnings per share of $2.31 for the quarter, beating analyst consensus estimates of $2.29 by $0.02. The company posted revenue of $15.54 billion for the quarter, versus analyst estimates of $15.18 billion. International Business Machines posted a net margin of 8.72% and a return on equity of 43.52%. International Business Machines revenue increased 9.3% year-over-year. In the same quarter a year earlier, the company posted EPS of $2.33.

Institutional Trade of International Trade Machines

Hedge funds have recently increased or reduced their stakes in the company. Steward Financial Group LLC increased its holdings of International Business Machines shares by 2.2% during the second quarter. Steward Financial Group LLC now owns 5,097 shares of the technology company valued at $719,000 after acquiring 112 additional shares in the last quarter. BCR Wealth Strategies LLC acquired a new position in International Business Machines in Q2 worth approximately $25,000. RNC Capital Management LLC increased its position in International Business Machines by 5.4% in the second quarter. RNC Capital Management LLC now owns 324,122 shares of the technology company worth $45,763,000 after buying an additional 16,504 shares last quarter. WoodTrust Financial Corp increased its position in International Business Machines by 432.4% in the second quarter. WoodTrust Financial Corp now owns 12,543 shares of the technology company worth $1,771,000 after buying 10,187 additional shares last quarter. Finally, Rice Partnership LLC strengthened its position in International Business Machines by 242.6% in the 2nd quarter. Rice Partnership LLC now owns 19,664 shares of the technology company worth $2,776,000 after buying 13,924 additional shares last quarter. 55.22% of the shares are held by hedge funds and other institutional investors.

Insider activity

In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines in a trade on Thursday, May 19. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares of the company, valued at $311,106,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 0.04% of the shares of the company.

International Business Machines increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Tuesday, May 10 received a dividend of $1.65 per share. The ex-dividend date was Monday, May 9. This represents an annualized dividend of $6.60 and a dividend yield of 5.15%. This is a boost from International Business Machines’ previous quarterly dividend of $1.64. International Business Machines’ dividend payout ratio (DPR) is currently 107.14%.

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.

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Earnings history and estimates for International Business Machines (NYSE:IBM)



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James G. Williams