$17.74 Billion in Sales Expected for International Business Machines Co. (NYSE:IBM) This Quarter

Wall Street brokerages predict that International Business Machines Co. (NYSE:IBM) will post $17.74 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for International Business Machines’ earnings. The lowest sales estimate is $17.63 billion and the highest is $17.81 billion. International Business Machines reported sales of $17.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 1%. The business is expected to issue its next quarterly earnings report on Monday, October 18th.

On average, analysts expect that International Business Machines will report full year sales of $74.93 billion for the current year, with estimates ranging from $74.72 billion to $75.10 billion. For the next fiscal year, analysts forecast that the firm will post sales of $75.87 billion, with estimates ranging from $75.20 billion to $77.32 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for International Business Machines.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Sunday, July 18th. The technology company reported $2.33 EPS for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. The business had revenue of $18.75 billion during the quarter, compared to analysts’ expectations of $18.30 billion. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.18 EPS.

Several brokerages recently commented on IBM. Citigroup increased their price objective on shares of International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, July 20th. Societe Generale raised shares of International Business Machines from a “sell” rating to a “hold” rating and increased their price objective for the company from $121.00 to $140.00 in a report on Tuesday, July 20th. Morgan Stanley raised their target price on shares of International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a report on Tuesday, July 20th. Finally, BMO Capital Markets raised their price target on International Business Machines from $150.00 to $155.00 and gave the stock a “market perform” rating in a research report on Friday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $149.86.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Calamos Advisors LLC grew its stake in International Business Machines by 29.4% during the 2nd 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 during the last quarter. Bank of The West lifted its holdings in shares of International Business Machines by 7.3% in the 1st quarter. Bank of The West now owns 17,432 shares of the technology company’s stock valued at $2,323,000 after buying an additional 1,186 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of International Business Machines in the 1st quarter valued at approximately $2,511,000. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in International Business Machines by 2.0% during 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. Finally, Cresset Asset Management LLC raised its holdings in International Business Machines by 19.6% during the first quarter. Cresset Asset Management LLC now owns 26,722 shares of the technology company’s stock worth $3,561,000 after purchasing an additional 4,377 shares during the last quarter. 55.24% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines stock traded up $1.23 during mid-day trading on Friday, reaching $138.72. 95,995 shares of the company traded hands, compared to its average volume of 5,195,417. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.84 and a quick ratio of 0.79. The firm’s 50 day moving average price is $139.73 and its 200 day moving average price is $140.33. The firm has a market capitalization of $124.34 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.56 and a beta of 1.22. International Business Machines has a 52-week low of $105.92 and a 52-week high of $152.84.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 4.73%. The ex-dividend date was Monday, August 9th. International Business Machines’s payout ratio is currently 75.66%.

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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