Wedbush Research Analysts Decrease Earnings Estimates for International Business Machines Co. (NYSE:IBM)

International Business Machines Co. (NYSE:IBM - Free Report) - Investment analysts at Wedbush reduced their FY2024 earnings per share estimates for shares of International Business Machines in a research note issued on Monday, April 29th. Wedbush analyst M. Katri now anticipates that the technology company will post earnings per share of $9.98 for the year, down from their previous estimate of $10.15. Wedbush has a "Neutral" rating and a $160.00 price objective on the stock. The consensus estimate for International Business Machines' current full-year earnings is $9.94 per share.

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

IBM has been the subject of several other research reports. BNP Paribas assumed coverage on International Business Machines in a report on Thursday. They issued an "underperform" rating and a $145.00 price objective for the company. UBS Group raised their target price on International Business Machines from $125.00 to $130.00 and gave the company a "sell" rating in a research note on Monday, April 22nd. Evercore ISI upgraded International Business Machines from an "in-line" rating to an "outperform" rating and raised their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a "hold" rating for the company in a research note on Tuesday, April 23rd. Finally, Societe Generale restated a "sell" rating and issued a $143.00 target price on shares of International Business Machines in a research note on Friday, January 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $181.29.

International Business Machines Trading Up 0.2 %

NYSE IBM traded up $0.30 on Thursday, hitting $164.73. The company's stock had a trading volume of 3,826,681 shares, compared to its average volume of 4,997,550. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company's 50-day simple moving average is $186.15 and its 200 day simple moving average is $170.82. The firm has a market cap of $151.01 billion, a P/E ratio of 18.66, a PEG ratio of 4.08 and a beta of 0.74.

Institutional Trading of International Business Machines

Several large investors have recently modified their holdings of IBM. Naples Money Management LLC bought a new stake in shares of International Business Machines in the fourth quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter valued at about $29,000. Briaud Financial Planning Inc bought a new stake in International Business Machines during the third quarter valued at about $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the fourth quarter valued at about $31,000. Finally, Stone House Investment Management LLC grew its holdings in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company's stock valued at $32,000 after purchasing an additional 204 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 4.06%. This is a positive change from International Business Machines's previous quarterly dividend of $1.66. International Business Machines's payout ratio is presently 75.20%.

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.