Analysts expect that IBM (NYSE:IBM) will report $18.30 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for IBM’s earnings, with the highest sales estimate coming in at $18.52 billion and the lowest estimate coming in at $18.13 billion. IBM posted sales of $18.76 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The company is scheduled to report its next earnings report on Tuesday, October 15th.
On average, analysts expect that IBM will report full-year sales of $77.51 billion for the current financial year, with estimates ranging from $76.85 billion to $78.19 billion. For the next fiscal year, analysts forecast that the firm will report sales of $79.84 billion, with estimates ranging from $77.13 billion to $82.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow IBM.
IBM (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11. The firm had revenue of $19.20 billion for the quarter, compared to analyst estimates of $19.20 billion. IBM had a net margin of 11.22% and a return on equity of 69.56%. IBM’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.08 earnings per share.
IBM has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of IBM in a research report on Thursday, August 1st. They set an “overweight” rating and a $170.00 price target on the stock. Nomura boosted their price target on shares of IBM from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $152.00 price target on shares of IBM in a research report on Monday, August 12th. Finally, Evercore ISI initiated coverage on shares of IBM in a research report on Wednesday, June 5th. They set an “outperform” rating and a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $155.29.
In other IBM news, SVP Kenneth M. Keverian sold 2,690 shares of IBM stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total transaction of $364,495.00. Following the transaction, the senior vice president now directly owns 34,665 shares of the company’s stock, valued at $4,697,107.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth M. Keverian sold 2,083 shares of IBM stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $132.00, for a total transaction of $274,956.00. Following the transaction, the senior vice president now directly owns 34,465 shares in the company, valued at $4,549,380. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock worth $940,430 over the last ninety days. 0.19% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of IBM. Edmp Inc. grew its holdings in IBM by 19.6% during the first quarter. Edmp Inc. now owns 13,197 shares of the technology company’s stock valued at $1,862,000 after purchasing an additional 2,165 shares during the period. Gantzert Investment Co. LLC ADV grew its holdings in IBM by 10.8% during the first quarter. Gantzert Investment Co. LLC ADV now owns 10,455 shares of the technology company’s stock valued at $1,475,000 after purchasing an additional 1,017 shares during the period. DAVENPORT & Co LLC grew its holdings in IBM by 2.8% during the first quarter. DAVENPORT & Co LLC now owns 52,049 shares of the technology company’s stock valued at $7,344,000 after purchasing an additional 1,441 shares during the period. Eastern Bank grew its holdings in IBM by 4.8% during the first quarter. Eastern Bank now owns 7,330 shares of the technology company’s stock valued at $1,035,000 after purchasing an additional 338 shares during the period. Finally, Providence Wealth Advisors LLC grew its holdings in IBM by 2.6% during the first quarter. Providence Wealth Advisors LLC now owns 8,996 shares of the technology company’s stock valued at $1,277,000 after purchasing an additional 227 shares during the period. 55.38% of the stock is currently owned by institutional investors.
IBM traded up $1.84 on Tuesday, reaching $133.76. 2,896,600 shares of the company’s stock were exchanged, compared to its average volume of 4,651,829. The stock has a market cap of $116.86 billion, a PE ratio of 9.69, a P/E/G ratio of 2.00 and a beta of 1.28. IBM has a twelve month low of $105.94 and a twelve month high of $154.36. The stock’s fifty day moving average price is $143.01 and its 200-day moving average price is $138.87. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.83 and a quick ratio of 1.79.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Thursday, August 8th. IBM’s dividend payout ratio (DPR) is presently 46.92%.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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