Wall Street brokerages expect International Business Machines Corp. (NYSE:IBM) to report $21.94 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for International Business Machines’ earnings. The lowest sales estimate is $21.77 billion and the highest is $22.01 billion. International Business Machines posted sales of $21.77 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, January 18th.
On average, analysts expect that International Business Machines will report full year sales of $21.94 billion for the current financial year, with estimates ranging from $78.37 billion to $78.69 billion. For the next year, analysts forecast that the firm will post sales of $78.39 billion per share, with estimates ranging from $77.53 billion to $79.01 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for International Business Machines.
International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.02. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The firm had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.63 billion. During the same quarter last year, the business posted $3.29 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year.
A number of brokerages recently commented on IBM. Oppenheimer reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, October 18th. ValuEngine raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. UBS Group reaffirmed a “neutral” rating and issued a $160.00 price target (up previously from $152.00) on shares of International Business Machines in a report on Wednesday, October 18th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $154.00 price target on shares of International Business Machines in a report on Friday, October 13th. Finally, Barclays increased their price target on shares of International Business Machines from $132.00 to $133.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $159.24.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Herndon Capital Management LLC raised its stake in shares of International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after acquiring an additional 195 shares in the last quarter. Edge Wealth Management LLC raised its stake in shares of International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after acquiring an additional 40 shares in the last quarter. ETF Managers Group LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $121,000. Horan Capital Advisors LLC. bought a new stake in shares of International Business Machines during the third quarter valued at approximately $136,000. Finally, Peddock Capital Advisors LLC raised its stake in shares of International Business Machines by 7.3% during the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after acquiring an additional 62 shares in the last quarter. 57.11% of the stock is owned by institutional investors and hedge funds.
International Business Machines (NYSE:IBM) opened at $153.42 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. International Business Machines has a 1-year low of $139.13 and a 1-year high of $182.79. The company has a market cap of $142,608.91, a PE ratio of 12.82, a P/E/G ratio of 2.26 and a beta of 0.94.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 9th. Shareholders of record on Friday, November 10th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, November 9th. International Business Machines’s payout ratio is currently 50.13%.
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About International Business Machines
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.
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