International Business Machines Corporation (NYSE:IBM)‘s stock had its “hold” rating reissued by research analysts at Guggenheim in a report issued on Friday, July 14th.

The analysts wrote, “We believe IBM’s organic revenue growth needs to stabilize or gross margins need to recover, but do not expect either near-term. Our Q2 estimates (unchanged) are for IBM’s revenue to have declined another 3%Y/Y to $19.6B and EPS -7%Y/Y to $2.75, in line with consensus $19.5B/$2.75. We expect focus to be on organic growth, but estimate revenue -4%Y/Y ex M&A, and gross margin down another 240bps Y/Y, only slightly better than Q1’s 300bps Y/Y erosion. We presume IBM will maintain its 2017E EPS outlook for at least $13.80 but continue to see that requiring an extraordinarily big Q4 (without non-operating stretch helpers), with our own estimate still $13.61 even factoring in a Q4 mainframe refresh. We estimate Tech/Cloud Services (-3%Y/Y), GBS/Consulting (-4%Y/Y) and Systems (-16%Y/Y) all soft again in Q2, with Cognitive Solutions growing but just +2%Y/Y even with the help of last year’s M&A and investments in Watson AI.””

A number of other analysts also recently commented on the stock. Jefferies Group LLC reissued an “underperform” rating and set a $125.00 price objective (down previously from $135.00) on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and set a $165.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Vetr raised shares of International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 price objective on the stock in a report on Monday, July 10th. Cleveland Research assumed coverage on shares of International Business Machines Corporation in a report on Thursday, June 22nd. They set a “neutral” rating on the stock. Finally, BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. International Business Machines Corporation has an average rating of “Hold” and an average target price of $157.40.

International Business Machines Corporation (NYSE:IBM) opened at 142.11 on Friday. International Business Machines Corporation has a 52-week low of $142.00 and a 52-week high of $182.79. The company has a market cap of $132.44 billion, a price-to-earnings ratio of 11.79 and a beta of 0.97. The company’s 50-day moving average price is $150.98 and its 200-day moving average price is $163.44.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.23. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 earnings per share. Equities research analysts expect that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

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In other International Business Machines Corporation news, Director James W. Owens purchased 1,718 shares of International Business Machines Corporation stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $153.19 per share, for a total transaction of $263,180.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in International Business Machines Corporation during the fourth quarter worth $1,366,710,000. Asset Management One Co. Ltd. boosted its stake in International Business Machines Corporation by 1,629.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,573,373 shares of the technology company’s stock worth $261,234,000 after buying an additional 1,482,372 shares during the period. AMF Pensionsforsakring AB boosted its stake in International Business Machines Corporation by 186.6% in the fourth quarter. AMF Pensionsforsakring AB now owns 745,277 shares of the technology company’s stock worth $123,709,000 after buying an additional 485,195 shares during the period. Harbour Capital Advisors LLC boosted its stake in International Business Machines Corporation by 14,730.9% in the second quarter. Harbour Capital Advisors LLC now owns 483,488 shares of the technology company’s stock worth $3,143,000 after buying an additional 480,228 shares during the period. Finally, Bank of Nova Scotia boosted its stake in International Business Machines Corporation by 668.8% in the first quarter. Bank of Nova Scotia now owns 492,007 shares of the technology company’s stock worth $85,677,000 after buying an additional 428,011 shares during the period. 58.73% of the stock is currently owned by institutional investors and hedge funds.

About International Business Machines Corporation

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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