International Business Machines (IBM) Set to Announce Earnings on Wednesday

International Business Machines (NYSE:IBM) will issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.59 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 EPS. On average, analysts expect International Business Machines to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

International Business Machines Stock Up 1.4 %

Shares of NYSE:IBM opened at $183.77 on Wednesday. The company has a market capitalization of $168.47 billion, a PE ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines has a twelve month low of $120.55 and a twelve month high of $199.18. The firm has a 50 day simple moving average of $188.63 and a 200-day simple moving average of $168.44.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio is presently 81.67%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors have recently made changes to their positions in IBM. Moneta Group Investment Advisors LLC boosted its position in shares of International Business Machines by 98,797.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines during the 4th quarter worth $876,014,000. Morgan Stanley boosted its position in shares of International Business Machines by 22.8% during the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after purchasing an additional 3,084,458 shares in the last quarter. Legal & General Group Plc boosted its position in shares of International Business Machines by 25.7% during the 4th quarter. Legal & General Group Plc now owns 8,053,108 shares of the technology company’s stock worth $1,317,087,000 after purchasing an additional 1,645,235 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after purchasing an additional 1,163,790 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBM. Royal Bank of Canada lifted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Jefferies Financial Group started coverage on shares of International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $178.08.

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.