Analysts forecast that International Business Machines Co. (NYSE:IBM – Get Rating) will post $13.73 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for International Business Machines’ earnings. The lowest sales estimate is $13.50 billion and the highest is $13.91 billion. International Business Machines reported sales of $17.73 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 22.6%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that International Business Machines will report full year sales of $60.55 billion for the current financial year, with estimates ranging from $60.24 billion to $61.01 billion. For the next fiscal year, analysts forecast that the company will post sales of $63.13 billion, with estimates ranging from $62.37 billion to $64.55 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover International Business Machines.
International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings data on Monday, January 24th. The technology company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.04). International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The company had revenue of $16.70 billion during the quarter, compared to analyst estimates of $15.96 billion. During the same period in the previous year, the company earned $2.07 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year.
A number of brokerages have recently weighed in on IBM. Morgan Stanley upgraded International Business Machines from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $147.00 to $150.00 in a report on Wednesday. UBS Group dropped their target price on International Business Machines from $124.00 to $118.00 in a report on Tuesday, January 25th. BMO Capital Markets dropped their target price on International Business Machines from $155.00 to $148.00 and set a “market perform” rating on the stock in a report on Wednesday. The Goldman Sachs Group began coverage on International Business Machines in a report on Sunday, January 9th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, StockNews.com started coverage on International Business Machines in a report on Thursday, March 31st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $145.27.
International Business Machines stock traded up $0.42 during midday trading on Monday, hitting $126.56. The company’s stock had a trading volume of 6,384,180 shares, compared to its average volume of 3,702,631. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 2.36. The stock’s 50-day moving average price is $127.66 and its 200-day moving average price is $129.00. International Business Machines has a 12 month low of $114.56 and a 12 month high of $152.84. The company has a market capitalization of $113.82 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Friday, February 11th were paid a $1.64 dividend. The ex-dividend date was Thursday, February 10th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.18%. International Business Machines’s payout ratio is 103.31%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFS Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $28,000. Richwood Investment Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $30,000. Ulland Investment Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $32,000. Total Clarity Wealth Management Inc. raised its stake in International Business Machines by 537.5% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 255 shares of the technology company’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its stake in International Business Machines by 61.3% during the third quarter. Simon Quick Advisors LLC now owns 263 shares of the technology company’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 54.91% of the company’s stock.
About International Business Machines (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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