International Business Machines Corporation (NYSE:IBM) Posts Earnings Results, Beats Estimates By $0.02 EPS

International Business Machines Corporation (NYSE:IBM) issued its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02, Bloomberg Earnings reports. The company had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.63 billion. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. International Business Machines Corporation’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 earnings per share. International Business Machines Corporation updated its FY17 guidance to at least $13.80 EPS.

Shares of International Business Machines Corporation (NYSE IBM) opened at 153.68 on Friday. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The stock has a market cap of $142.83 billion, a price-to-earnings ratio of 12.82 and a beta of 0.95. The firm’s 50-day moving average price is $147.94 and its 200-day moving average price is $150.82.

Several large investors have recently bought and sold shares of IBM. Vanguard Group Inc. grew its stake in shares of International Business Machines Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after acquiring an additional 2,241,818 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of International Business Machines Corporation by 151.2% in the second quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock worth $499,955,000 after acquiring an additional 1,956,033 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of International Business Machines Corporation by 1,155.3% in the second quarter. Janus Henderson Group PLC now owns 1,358,103 shares of the technology company’s stock worth $208,923,000 after acquiring an additional 1,249,916 shares in the last quarter. BlackRock Inc. grew its stake in shares of International Business Machines Corporation by 2.4% in the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after acquiring an additional 1,241,441 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of International Business Machines Corporation by 34.4% in the second quarter. Renaissance Technologies LLC now owns 2,720,300 shares of the technology company’s stock worth $418,464,000 after acquiring an additional 696,600 shares in the last quarter. Institutional investors and hedge funds own 57.83% of the company’s stock.

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Several research firms recently weighed in on IBM. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Royal Bank Of Canada reiterated a “hold” rating on shares of International Business Machines Corporation in a research report on Friday, October 13th. Stifel Nicolaus reiterated a “buy” rating and set a $182.00 target price on shares of International Business Machines Corporation in a research report on Friday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $192.00 target price on shares of International Business Machines Corporation in a research report on Wednesday, August 23rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $170.00 price objective (up from $167.00) on shares of International Business Machines Corporation in a research report on Wednesday, October 18th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $158.90.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Earnings History for International Business Machines Corporation (NYSE:IBM)

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