Q2 2024 EPS Estimates for International Business Machines Co. (NYSE:IBM) Reduced by Wedbush

International Business Machines Co. (NYSE:IBM) – Investment analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for shares of International Business Machines in a research report issued on Monday, April 29th. Wedbush analyst M. Katri now anticipates that the technology company will post earnings of $2.18 per share for the quarter, down from their prior forecast of $2.31. Wedbush has a “Neutral” rating and a $160.00 price objective 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.

IBM has been the subject of a number of other research reports. Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley decreased their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $184.08.

International Business Machines Stock Down 0.7 %

Shares of NYSE:IBM opened at $166.19 on Wednesday. International Business Machines has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock’s 50-day moving average is $186.85 and its 200 day moving average is $170.91. The company has a market cap of $152.35 billion, a PE ratio of 18.82, a P/E/G ratio of 4.10 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 EPS.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Desjardins Global Asset Management Inc. grew its holdings in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the last quarter. Arden Trust Co grew its stake in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after acquiring an additional 55 shares during the period. Avion Wealth raised its stake in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.