International Business Machines (NYSE:IBM) Releases Earnings Results, Beats Estimates By $0.09 EPS

International Business Machines (NYSE:IBM) posted its quarterly earnings data on Wednesday. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09, Briefing.com reports. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $1.47 during midday trading on Friday, hitting $167.44. 4,836,461 shares of the stock traded hands, compared to its average volume of 4,955,068. The firm has a 50-day moving average of $188.00 and a two-hundred day moving average of $169.97. The firm has a market capitalization of $153.50 billion, a P/E ratio of 18.96, a PEG ratio of 3.62 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. International Business Machines has a one year low of $120.55 and a one year high of $199.18.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. International Business Machines’s payout ratio is 75.20%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent research reports. Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their price target on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group decreased their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Bank of America increased their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $184.08.

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.