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Zacks: Brokerages Anticipate International Business Machines Co. (NYSE:IBM) Will Post Earnings of $2.55 Per Share

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Brokerages forecast that International Business Machines Co. (NYSE:IBM) will report $2.55 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for International Business Machines' earnings, with estimates ranging from $2.37 to $2.77. International Business Machines posted earnings per share of $2.68 in the same quarter last year, which would suggest a negative year over year growth rate of 4.9%. The business is expected to report its next earnings report after the market closes on Monday, October 19th.

According to Zacks, analysts expect that International Business Machines will report full-year earnings of $11.06 per share for the current year, with EPS estimates ranging from $10.65 to $11.44. For the next year, analysts expect that the company will report earnings of $12.08 per share, with EPS estimates ranging from $11.06 to $12.50. Zacks' earnings per share averages are an average based on a survey of research firms that that provide coverage for International Business Machines.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Monday, July 20th. The technology company reported $2.18 EPS for the quarter, topping the Zacks' consensus estimate of $2.14 by $0.04. International Business Machines had a return on equity of 51.06% and a net margin of 10.44%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.72 billion. During the same quarter last year, the business posted $3.17 earnings per share. The firm's revenue was down 5.4% compared to the same quarter last year.

A number of research firms have commented on IBM. Credit Suisse Group lifted their target price on International Business Machines from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. ValuEngine upgraded International Business Machines from a "sell" rating to a "hold" rating in a research report on Thursday, October 8th. Citigroup lifted their target price on International Business Machines from $120.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Wells Fargo & Company lifted their target price on International Business Machines from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, Bank of America restated a "buy" rating and issued a $145.00 target price on shares of International Business Machines in a research report on Monday, July 20th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of "Hold" and an average price target of $139.88.

NYSE:IBM traded up $1.04 on Friday, reaching $125.93. The company's stock had a trading volume of 4,714,320 shares, compared to its average volume of 5,524,485. International Business Machines has a 12-month low of $90.56 and a 12-month high of $158.75. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.68. The firm has a market cap of $112.15 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 3.51 and a beta of 1.16. The stock has a 50 day moving average price of $122.93 and a 200 day moving average price of $122.15.

In related news, SVP Diane J. Gherson sold 1,176 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $126.73, for a total transaction of $149,034.48. Following the completion of the transaction, the senior vice president now directly owns 31,767 shares of the company's stock, valued at approximately $4,025,831.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Diane J. Gherson sold 1,215 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $127.00, for a total value of $154,305.00. Following the transaction, the senior vice president now directly owns 30,597 shares of the company's stock, valued at $3,885,819. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its stake in International Business Machines by 3.2% during the 2nd quarter. Bessemer Group Inc. now owns 985,759 shares of the technology company's stock worth $119,048,000 after purchasing an additional 30,225 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of International Business Machines by 2.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 726,451 shares of the technology company's stock worth $87,733,000 after acquiring an additional 17,929 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of International Business Machines by 0.9% during the 2nd quarter. Gulf International Bank UK Ltd now owns 215,315 shares of the technology company's stock worth $26,003,000 after acquiring an additional 1,956 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of International Business Machines by 24.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 208,892 shares of the technology company's stock worth $25,228,000 after acquiring an additional 41,040 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of International Business Machines by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 121,125 shares of the technology company's stock worth $14,628,000 after acquiring an additional 424 shares in the last quarter. 56.11% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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

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7 Tech Stocks To Buy On Sale

This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.

However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.

That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.

First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.

And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.

The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.

View the "7 Tech Stocks To Buy On Sale".

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