International Business Machines Corporation (IBM) To Go Ex-Dividend on May 8th

International Business Machines Corporation (NYSE:IBM) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Friday, May 8th will be given a dividend of 1.69 per share by the technology company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 8th. This is a 0.6% increase from International Business Machines’s previous quarterly dividend of $1.68.

International Business Machines has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years. International Business Machines has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $13.36 per share next year, which means the company should continue to be able to cover its $6.76 annual dividend with an expected future payout ratio of 50.6%.

International Business Machines Stock Down 0.2%

International Business Machines stock opened at $229.01 on Wednesday. International Business Machines has a fifty-two week low of $220.72 and a fifty-two week high of $324.90. The firm has a market capitalization of $215.24 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.38 and a beta of 0.58. The stock’s fifty day moving average is $242.95 and its two-hundred day moving average is $278.53. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. Analysts predict that International Business Machines will post 12.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBM shares. JPMorgan Chase & Co. reduced their price target on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Bank of America lifted their price objective on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a report on Tuesday, April 21st. Finally, UBS Group raised International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $296.18.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.