International Business Machines Corporation (NYSE:IBM) announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.23, Bloomberg Earnings reports. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter last year, the business posted $2.95 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year.
Shares of International Business Machines Corporation (NYSE IBM) traded up 0.15% during mid-day trading on Friday, hitting $145.16. The company had a trading volume of 2,549,400 shares. The company has a market capitalization of $135.28 billion, a P/E ratio of 12.05 and a beta of 0.97. International Business Machines Corporation has a one year low of $143.64 and a one year high of $182.79. The firm’s 50-day moving average price is $151.77 and its 200 day moving average price is $163.85.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.13%. International Business Machines Corporation’s dividend payout ratio is 49.88%.
In related news, Director James W. Owens purchased 1,718 shares of the stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.
IBM has been the topic of several research analyst reports. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $150.00 price target on shares of International Business Machines Corporation in a research report on Monday, May 15th. Goldman Sachs Group, Inc. (The) decreased their price target on International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $147.02 price target on the stock in a research note on Wednesday, June 7th. Credit Suisse Group reiterated an “underperform” rating and set a $110.00 target price (down from $125.00) on shares of International Business Machines Corporation in a research report on Monday, July 17th. Finally, UBS AG reiterated a “neutral” rating and set a $159.00 target price (down from $167.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. International Business Machines Corporation presently has a consensus rating of “Hold” and an average target price of $157.40.
International Business Machines Corporation 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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