Royal Bank Of Canada Cuts International Business Machines (NYSE:IBM) Price Target to $300.00

Key Points

• The Royal Bank of Canada has lowered its price target for International Business Machines (IBM) from $315.00 to $300.00, while maintaining an "outperform" rating on the stock.
• Analysts have varying opinions on IBM, with one rating it a "Strong Buy," while others have rated it "sell" or "hold," creating a consensus target price of $288.31.
• IBM's stock opened at $272.29 and has seen a 5.3% decline, despite reporting earnings per share of $2.65 for the recent quarter, exceeding expectations.

International Business Machines (NYSE:IBM - Get Free Report) had its target price dropped by stock analysts at Royal Bank Of Canada from $315.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 10.18% from the company's previous close.

IBM has been the subject of a number of other research reports. UBS Group set a $210.00 price objective on International Business Machines and gave the stock a "sell" rating in a research report on Thursday. Jefferies Financial Group raised their target price on International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. BMO Capital Markets raised their target price on International Business Machines from $300.00 to $305.00 and gave the stock a "market perform" rating in a research note on Thursday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of International Business Machines in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus target price of $288.31.

International Business Machines Stock Down 5.3%

Shares of NYSE IBM opened at $272.29 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $253.06 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 4.34 and a beta of 0.73. The stock's fifty day simple moving average is $263.92 and its two-hundred day simple moving average is $262.56. International Business Machines has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to analysts' expectations of $16.10 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company's stock worth $28,019,274,000 after buying an additional 1,913,708 shares during the last quarter. State Street Corp boosted its holdings in International Business Machines by 0.3% in the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company's stock worth $16,076,406,000 after buying an additional 147,721 shares during the last quarter. Geode Capital Management LLC boosted its holdings in International Business Machines by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company's stock worth $6,444,527,000 after buying an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company's stock worth $2,147,608,000 after purchasing an additional 524,633 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of International Business Machines by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company's stock worth $2,100,751,000 after purchasing an additional 234,318 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

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.

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