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

International Business Machines (NYSE:IBM) released its quarterly earnings results on Wednesday. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.05, Briefing.com reports. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share.

International Business Machines Trading Down 6.3 %

Shares of International Business Machines stock traded down $14.57 during trading hours on Thursday, reaching $218.18. The stock had a trading volume of 4,330,480 shares, compared to its average volume of 4,192,041. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines has a 1 year low of $136.33 and a 1 year high of $237.37. The firm 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. The firm has a 50 day simple moving average of $214.67 and a two-hundred day simple moving average of $190.05.

International Business Machines Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bernstein Bank lifted their target price 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. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target 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.