Wall Street brokerages forecast that International Business Machines Corp. (NYSE:IBM) will report sales of $18.65 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for International Business Machines’ earnings, with the lowest sales estimate coming in at $18.20 billion and the highest estimate coming in at $19.20 billion. International Business Machines reported sales of $18.16 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The company is expected to announce its next quarterly earnings results on Tuesday, April 17th.
According to Zacks, analysts expect that International Business Machines will report full-year sales of $18.65 billion for the current fiscal year, with estimates ranging from $78.28 billion to $80.98 billion. For the next fiscal year, analysts expect that the firm will report sales of $79.75 billion per share, with estimates ranging from $77.37 billion to $81.20 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for International Business Machines.
International Business Machines (NYSE:IBM) last released its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion for the quarter, compared to analyst estimates of $22.03 billion. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. International Business Machines’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.01 earnings per share.
IBM has been the topic of several recent analyst reports. Tigress Financial restated a “buy” rating on shares of International Business Machines in a report on Friday, December 1st. Vetr lowered shares of International Business Machines from a “strong-buy” rating to a “buy” rating and set a $173.45 target price on the stock. in a report on Tuesday, December 12th. Pivotal Research initiated coverage on shares of International Business Machines in a report on Friday, October 27th. They issued a “buy” rating and a $180.00 target price on the stock. Bank of America restated a “buy” rating and issued a $200.00 target price on shares of International Business Machines in a report on Friday, January 19th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $180.00 target price on shares of International Business Machines in a report on Friday, January 19th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. International Business Machines currently has a consensus rating of “Hold” and an average target price of $164.37.
In other International Business Machines news, Director Frederick H. Waddell bought 610 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average price of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in International Business Machines by 5.4% in the 4th quarter. BlackRock Inc. now owns 57,755,152 shares of the technology company’s stock worth $8,860,797,000 after purchasing an additional 2,960,682 shares in the last quarter. Vanguard Group Inc. grew its position in International Business Machines by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after purchasing an additional 2,241,818 shares in the last quarter. Renaissance Technologies LLC grew its position in International Business Machines by 181.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,115,200 shares of the technology company’s stock worth $477,934,000 after purchasing an additional 2,007,513 shares in the last quarter. Nordea Investment Management AB grew its position in International Business Machines by 151.2% in the 2nd quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock worth $499,955,000 after purchasing an additional 1,956,033 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in International Business Machines in the 4th quarter worth about $247,541,000. Institutional investors own 58.78% of the company’s stock.
International Business Machines (NYSE IBM) opened at $156.18 on Monday. The stock has a market cap of $144,590.09, a price-to-earnings ratio of 11.29, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. International Business Machines has a fifty-two week low of $139.13 and a fifty-two week high of $182.55.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.84%. International Business Machines’s dividend payout ratio is presently 98.20%.
International Business Machines 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.
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