International Business Machines (NYSE:IBM) Posts Earnings Results, Beats Estimates By $0.27 EPS

International Business Machines (NYSE:IBM) posted its quarterly earnings data on Wednesday. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27, Briefing.com reports. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $2.18 EPS.

International Business Machines Stock Performance

International Business Machines stock traded up $9.11 during midday trading on Thursday, hitting $193.13. 7,226,623 shares of the company’s stock were exchanged, compared to its average volume of 4,427,423. International Business Machines has a 12-month low of $135.87 and a 12-month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock has a market cap of $177.41 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71. The firm’s 50 day simple moving average is $173.83 and its 200 day simple moving average is $178.81.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley decreased their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Stifel Nicolaus raised their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $184.93.

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.