Wall Street brokerages expect International Business Machines Co. (NYSE:IBM) to report sales of $17.76 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for International Business Machines' earnings, with the lowest sales estimate coming in at $17.63 billion and the highest estimate coming in at $17.83 billion. International Business Machines posted sales of $17.56 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings results on Monday, October 18th.
On average, analysts expect that International Business Machines will report full-year sales of $74.97 billion for the current fiscal year, with estimates ranging from $74.72 billion to $75.17 billion. For the next financial year, analysts anticipate that the firm will report sales of $76.05 billion, with estimates ranging from $75.20 billion to $77.32 billion. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for International Business Machines.
International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $2.29 by $0.04. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The firm had revenue of $18.75 billion for the quarter, compared to the consensus estimate of $18.30 billion. During the same quarter in the previous year, the company earned $2.18 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis.
IBM has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of International Business Machines from $152.00 to $164.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 20th. Jefferies Financial Group initiated coverage on shares of International Business Machines in a research note on Friday, October 1st. They issued a "buy" rating and a $170.00 target price for the company. Credit Suisse Group boosted their price target on shares of International Business Machines from $167.00 to $176.00 and gave the stock an "outperform" rating in a report on Tuesday, October 5th. BMO Capital Markets upped their price objective on shares of International Business Machines from $150.00 to $155.00 and gave the company a "market perform" rating in a report on Friday, July 16th. Finally, Citigroup upped their price objective on shares of International Business Machines from $140.00 to $150.00 and gave the company a "neutral" rating in a report on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $153.75.
International Business Machines stock opened at $140.76 on Thursday. The company has a market capitalization of $126.17 billion, a PE ratio of 23.74, a PEG ratio of 1.56 and a beta of 1.22. The firm's fifty day moving average is $139.65 and its 200 day moving average is $141.27. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 2.21. International Business Machines has a 12-month low of $105.92 and a 12-month high of $152.84.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Monday, August 9th. International Business Machines's payout ratio is 75.66%.
Institutional investors have recently made changes to their positions in the company. Calamos Advisors LLC lifted its holdings in shares of International Business Machines by 29.4% in the second quarter. Calamos Advisors LLC now owns 127,933 shares of the technology company's stock worth $18,754,000 after buying an additional 29,098 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of International Business Machines in the first quarter worth about $2,511,000. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of International Business Machines by 2.0% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 37,182 shares of the technology company's stock worth $5,451,000 after purchasing an additional 726 shares during the last quarter. Albion Financial Group UT bought a new position in shares of International Business Machines in the second quarter worth approximately $5,085,000. Finally, Goelzer Investment Management Inc. increased its position in shares of International Business Machines by 4.4% in the second quarter. Goelzer Investment Management Inc. now owns 41,902 shares of the technology company's stock worth $6,142,000 after purchasing an additional 1,782 shares during the last quarter. 55.24% of the stock is currently owned by hedge funds and other institutional investors.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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