International Business Machines (NYSE:IBM) released its quarterly earnings results on Wednesday. The technology company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.28, MarketWatch Earnings reports. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. During the same quarter in the prior year, the firm posted $4.71 earnings per share.
NYSE IBM opened at $118.61 on Friday. The stock has a market cap of $105.69 billion, a PE ratio of 13.43, a P/E/G ratio of 3.36 and a beta of 1.25. International Business Machines has a fifty-two week low of $90.56 and a fifty-two week high of $158.75. The business has a 50 day moving average price of $126.43 and a two-hundred day moving average price of $122.77. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58.
In related news, Director David N. Farr purchased 1,500 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was purchased at an average price of $107.74 per share, for a total transaction of $161,610.00. Following the acquisition, the director now directly owns 6,758 shares in the company, valued at $728,106.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alex Gorsky purchased 4,232 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was bought at an average price of $117.86 per share, with a total value of $498,783.52. Following the acquisition, the director now owns 4,232 shares in the company, valued at $498,783.52. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 13,387 shares of company stock valued at $1,513,946. 0.24% of the stock is owned by company insiders.
Several brokerages recently weighed in on IBM. Morgan Stanley boosted their target price on shares of International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Zacks Investment Research downgraded shares of International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 target price for the company. in a research note on Wednesday, October 21st. Finally, BMO Capital Markets cut their target price on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research note on Tuesday, October 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $139.13.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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