International Business Machines (NYSE:IBM) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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

International Business Machines Trading Down 6.3 %

NYSE IBM traded down $14.57 on Thursday, hitting $218.18. 4,330,480 shares of the stock were exchanged, compared to its average volume of 4,192,041. The company’s 50-day moving average price is $214.67 and its two-hundred day moving average price is $190.05. 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 company has a market capitalization of $200.42 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.06%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Finally, Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price 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.