IBM (NYSE:IBM) released its quarterly earnings data on Wednesday. The technology company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.06 by $0.11, RTT News reports. The firm had revenue of $19.20 billion for the quarter, compared to analyst estimates of $19.20 billion. IBM had a net margin of 10.98% and a return on equity of 68.76%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 earnings per share. IBM updated its FY 2019 guidance to $13.90 EPS and its FY19 guidance to $13.90 EPS.

Shares of NYSE:IBM traded down $0.46 during midday trading on Wednesday, hitting $143.07. The company’s stock had a trading volume of 4,596,151 shares, compared to its average volume of 3,788,136. The business’s 50 day moving average is $137.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.31 and a current ratio of 1.36. The stock has a market cap of $127.07 billion, a P/E ratio of 10.36, a P/E/G ratio of 2.60 and a beta of 1.25. IBM has a 12-month low of $105.94 and a 12-month high of $154.36.

IBM has been the topic of a number of research reports. Zacks Investment Research lowered shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. UBS Group set a $160.00 price target on shares of IBM and gave the company a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets started coverage on shares of Yelp in a research report on Wednesday, April 17th. They set an “outperform” rating on the stock. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI initiated coverage on shares of Sensata Technologies in a research report on Wednesday, June 5th. They set an “in-line” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $155.17.

In other IBM news, SVP Kenneth M. Keverian sold 2,083 shares of IBM stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $132.00, for a total transaction of $274,956.00. Following the transaction, the senior vice president now directly owns 34,465 shares of the company’s stock, valued at $4,549,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of IBM stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $135.15, for a total transaction of $300,979.05. Following the transaction, the senior vice president now directly owns 32,878 shares in the company, valued at $4,443,461.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,000 shares of company stock worth $940,430. Insiders own 0.19% of the company’s stock.

About IBM

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.

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Earnings History for IBM (NYSE:IBM)

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