IBM (NYSE:IBM) Releases Earnings Results, Beats Estimates By $0.02 EPS
IBM (NYSE:IBM) issued its earnings results on Tuesday. The technology company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.02, RTT News reports. The business had revenue of $21.78 billion during the quarter, compared to the consensus estimate of $21.62 billion. IBM had a return on equity of 67.12% and a net margin of 10.00%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.87 EPS. IBM updated its FY 2020
After-Hours guidance to 13.35 EPS and its FY20 guidance to at least $13.35 EPS.
Shares of IBM traded up $0.86 on Tuesday, reaching $139.17. The stock had a trading volume of 7,131,767 shares, compared to its average volume of 3,910,482. The firm has a market capitalization of $122.49 billion, a PE ratio of 16.16, a PEG ratio of 2.09 and a beta of 1.33. The company has a quick ratio of 1.04, a current ratio of 1.09 and a debt-to-equity ratio of 3.40. The firm has a 50-day moving average of $135.11 and a 200 day moving average of $138.23. IBM has a twelve month low of $121.54 and a twelve month high of $152.95.
A number of brokerages have recently issued reports on IBM. UBS Group downgraded IBM from a “buy” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $140.00 in a research note on Monday, October 21st. BMO Capital Markets cut their target price on IBM from $157.00 to $152.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Sanford C. Bernstein reissued a “hold” rating and set a $135.00 target price on shares of IBM in a research note on Wednesday, January 15th. Wells Fargo & Co reissued a “market perform” rating and set a $140.00 target price (down from $147.00) on shares of IBM in a research note on Thursday, October 17th. Finally, Wedbush reissued a “neutral” rating and set a $155.00 target price (down from $165.00) on shares of IBM in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. IBM currently has an average rating of “Hold” and a consensus price target of $153.47.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
Further Reading: Balance Sheet
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