Q2 2024 Earnings Estimate for International Business Machines Co. (NYSE:IBM) Issued By Wedbush

International Business Machines Co. (NYSE:IBM - Free Report) - Research analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for shares of International Business Machines in a report issued on Monday, April 29th. Wedbush analyst M. Katri now expects that the technology company will post earnings of $2.18 per share for the quarter, down from their previous estimate of $2.31. Wedbush currently has a "Neutral" rating and a $160.00 price target on the stock. The consensus estimate for International Business Machines' current full-year earnings is $9.98 per share. Wedbush also issued estimates for International Business Machines' Q3 2024 earnings at $2.26 EPS, Q4 2024 earnings at $3.86 EPS and FY2025 earnings at $10.23 EPS.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group decreased their target price on International Business Machines from $215.00 to $210.00 and set a "hold" rating on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price target on International Business Machines from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. UBS Group raised their price target on International Business Machines from $125.00 to $130.00 and gave the company a "sell" rating in a report on Monday, April 22nd. Bank of America raised their price target on International Business Machines from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, March 14th. Finally, Royal Bank of Canada raised their target price on International Business Machines from $179.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $184.08.

International Business Machines Price Performance

International Business Machines stock traded down $1.84 during mid-day trading on Wednesday, hitting $164.36. 4,029,859 shares of the company were exchanged, compared to its average volume of 5,011,487. The business has a fifty day moving average of $186.54 and a 200 day moving average of $170.87. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $150.68 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.70. International Business Machines has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $1.67 dividend. This is an increase 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 4.06%. International Business Machines's dividend payout ratio (DPR) is currently 75.20%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RMR Wealth Builders lifted its stake in shares of International Business Machines by 2.7% in the 3rd quarter. RMR Wealth Builders now owns 3,375 shares of the technology company's stock valued at $474,000 after acquiring an additional 90 shares during the last quarter. Vicus Capital grew its holdings in shares of International Business Machines by 33.7% during the 3rd quarter. Vicus Capital now owns 3,171 shares of the technology company's stock worth $445,000 after acquiring an additional 800 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of International Business Machines by 5.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 227,716 shares of the technology company's stock worth $31,949,000 after buying an additional 11,501 shares during the last quarter. Dakota Wealth Management grew its stake in shares of International Business Machines by 36.9% in the 3rd quarter. Dakota Wealth Management now owns 5,536 shares of the technology company's stock worth $777,000 after buying an additional 1,492 shares during the last quarter. Finally, Signature Wealth Management Partners LLC grew its stake in shares of International Business Machines by 5.3% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 4,006 shares of the technology company's stock worth $562,000 after buying an additional 200 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.