International Business Machines (NYSE:IBM) issued its earnings results on Wednesday. The technology company reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.28, MarketWatch Earnings reports. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. During the same period in the previous year, the business earned $4.71 earnings per share.
Shares of NYSE:IBM opened at $118.61 on Friday. The firm’s 50 day moving average price is $126.43 and its 200 day moving average price is $122.77. The stock has a market cap of $105.69 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. International Business Machines has a fifty-two week low of $90.56 and a fifty-two week high of $158.75. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58.
In related news, Director Sidney Taurel acquired 5,000 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were bought at an average price of $110.75 per share, with a total value of $553,750.00. Following the completion of the acquisition, the director now owns 28,798 shares in the company, valued at $3,189,378.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew N. Liveris acquired 2,655 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were bought at an average cost of $112.92 per share, for a total transaction of $299,802.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 13,387 shares of company stock worth $1,513,946. 0.24% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on IBM. BMO Capital Markets dropped their price objective on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a report on Tuesday, October 20th. Zacks Investment Research lowered shares of International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price objective for the company. in a report on Wednesday, October 21st. Finally, Morgan Stanley upped their price objective on shares of International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $139.13.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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