Q2 2024 Earnings Forecast for International Business Machines Co. (NYSE:IBM) Issued By Wedbush

International Business Machines Co. (NYSE:IBM) – Stock analysts at Wedbush dropped their Q2 2024 earnings per share estimates for International Business Machines in a research note issued on Monday, April 29th. Wedbush analyst M. Katri now expects that the technology company will post earnings of $2.18 per share for the quarter, down from their prior estimate of $2.31. Wedbush currently has a “Neutral” rating and a $160.00 target price on the stock. The consensus estimate for International Business Machines’ current full-year earnings is $9.98 per share. Wedbush also issued estimates for International Business Machines’ Q3 2024 earnings at $2.26 EPS, Q4 2024 earnings at $3.86 EPS and FY2025 earnings at $10.23 EPS.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lowered their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Bank of America raised their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Societe Generale reissued a “sell” rating and set a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Finally, Royal Bank of Canada upped their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Down 1.1 %

Shares of International Business Machines stock opened at $164.36 on Wednesday. The firm has a market cap of $150.68 billion, a P/E ratio of 18.61, a P/E/G ratio of 4.10 and a beta of 0.70. The business has a 50-day moving average price of $186.54 and a 200 day moving average price of $170.87. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines has a fifty-two week low of $120.55 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the 4th quarter worth about $29,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines during the third quarter valued at about $31,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Stone House Investment Management LLC raised its holdings in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 4.06%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

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.