International Business Machines (NYSE:IBM) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

International Business Machines (NYSE:IBM) issued its earnings results on Wednesday. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.05, Briefing.com reports. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $13.05 during midday trading on Thursday, hitting $219.70. The stock had a trading volume of 3,620,601 shares, compared to its average volume of 4,188,595. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $201.82 billion, a PE ratio of 24.55, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines has a 1 year low of $136.33 and a 1 year high of $237.37. The stock has a 50 day moving average price of $214.67 and a two-hundred day moving average price of $190.05.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.04%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBM shares. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.65.

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.