International Business Machines (NYSE:IBM) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

International Business Machines (NYSE:IBMGet Free Report) issued its earnings results on Wednesday. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09, Briefing.com reports. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share.

International Business Machines Stock Performance

Shares of IBM stock opened at $184.01 on Thursday. International Business Machines has a one year low of $120.55 and a one year high of $199.18. The firm has a 50-day moving average of $188.36 and a 200-day moving average of $169.98. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $168.69 billion, a P/E ratio of 22.63, a P/E/G ratio of 3.58 and a beta of 0.70.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group lowered their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $177.23.

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International Business Machines Company Profile

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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.

See Also

Earnings History for International Business Machines (NYSE:IBM)

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