International Business Machines (NYSE:IBM) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

International Business Machines (NYSE:IBM) issued its quarterly earnings results on Wednesday. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03, Briefing.com reports. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share.

International Business Machines Trading Down 6.2 %

Shares of NYSE:IBM opened at $218.28 on Friday. The company has a market cap of $200.51 billion, a P/E ratio of 24.72, a PEG ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a 1 year low of $136.33 and a 1 year high of $237.37. The stock’s fifty day moving average price is $214.67 and its 200-day moving average price is $190.05.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $208.12.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.