International Business Machines (NYSE:IBM) Posts Earnings Results, Misses Expectations By $0.01 EPS

International Business Machines (NYSE:IBMGet Rating) issued its quarterly earnings results on Wednesday. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.61 by ($0.01), Yahoo Finance reports. International Business Machines had a return on equity of 41.50% and a net margin of 2.08%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same period in the prior year, the firm earned $3.35 earnings per share. The business’s revenue was up .0% on a year-over-year basis.

International Business Machines Trading Down 0.5 %

Shares of IBM stock traded down $0.73 on Wednesday, hitting $140.76. The stock had a trading volume of 6,744,693 shares, compared to its average volume of 4,198,734. International Business Machines has a 1 year low of $115.54 and a 1 year high of $153.21. The firm has a market capitalization of $127.26 billion, a P/E ratio of 102.75, a P/E/G ratio of 2.66 and a beta of 0.89. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.95 and a quick ratio of 0.89. The company’s 50 day moving average price is $144.54 and its 200-day moving average price is $135.54.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on International Business Machines from $112.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, October 20th. Stifel Nicolaus lifted their target price on International Business Machines from $140.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI lifted their target price on International Business Machines from $135.00 to $150.00 in a research report on Tuesday, January 17th. Moffett Nathanson upgraded International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 target price on the stock in a research report on Thursday, January 19th. Finally, Credit Suisse Group reduced their target price on International Business Machines from $158.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $142.30.

Insider Buying and Selling

In related news, VP Bene Robert F. Del sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total transaction of $445,080.00. Following the completion of the transaction, the vice president now directly owns 14,553 shares of the company’s stock, valued at approximately $2,159,083.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in International Business Machines by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after purchasing an additional 1,105,170 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Business Machines by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock worth $966,020,000 after acquiring an additional 77,916 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after acquiring an additional 1,163,790 shares in the last quarter. National Pension Service boosted its position in shares of International Business Machines by 2.4% during the 3rd quarter. National Pension Service now owns 1,373,765 shares of the technology company’s stock worth $167,091,000 after acquiring an additional 31,783 shares in the last quarter. Finally, Eaton Vance Management boosted its position in shares of International Business Machines by 38.7% during the 1st quarter. Eaton Vance Management now owns 1,132,418 shares of the technology company’s stock worth $147,237,000 after acquiring an additional 315,733 shares in the last quarter. 55.90% of the stock is owned by institutional investors and hedge funds.

International Business Machines Company Profile

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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.

Further Reading

Earnings History for International Business Machines (NYSE:IBM)

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