May 18, 2024

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International Business Machines Co. Forecasted to Post Q2 2024 Earnings of $2.17 Per Share (NYSE:IBM)

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International Business Machines Co. (NYSE:IBM – Free Report) – Research analysts at Zacks Research reduced their Q2 2024 EPS estimates for shares of International Business Machines in a research note issued to investors on Monday, May 13th. Zacks Research analyst S. Bose now anticipates that the technology company will post earnings per share of $2.17 for the quarter, down from their prior estimate of $2.28. The consensus estimate for International Business Machines’ current full-year earnings is $9.92 per share. Zacks Research also issued estimates for International Business Machines’ Q4 2024 earnings at $3.80 EPS, FY2024 earnings at $9.86 EPS, Q2 2025 earnings at $2.60 EPS, Q4 2025 earnings at $2.91 EPS, Q1 2026 earnings at $1.81 EPS and FY2026 earnings at $10.93 EPS.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of other brokerages have also weighed in on IBM. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. UBS Group increased their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BNP Paribas assumed coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $181.29.

Get Our Latest Analysis on IBM

International Business Machines Stock Up 0.6 %

IBM stock opened at $168.29 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines has a 1-year low of $122.45 and a 1-year high of $199.18. The stock has a market capitalization of $154.59 billion, a P/E ratio of 19.03, a P/E/G ratio of 4.12 and a beta of 0.74. The business has a fifty day moving average price of $183.01 and a 200-day moving average price of $172.87.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.97%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the 1st quarter valued at approximately $26,000. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter valued at $28,000. ESL Trust Services LLC bought a new stake in International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter worth $29,000. Finally, Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the 3rd quarter valued at about $31,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for International Business Machines (NYSE:IBM)

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