International Business Machines Corp. to Post Q2 2017 Earnings of $2.69 Per Share, Jefferies Group Forecasts (IBM)

International Business Machines Corp. (NYSE:IBM) – Equities researchers at Jefferies Group dropped their Q2 2017 earnings per share (EPS) estimates for International Business Machines Corp. in a research report issued on Tuesday. Jefferies Group analyst J. Kisner now expects that the technology company will post earnings of $2.69 per share for the quarter, down from their previous forecast of $3.09. Jefferies Group has a “Sell” rating and a $135.00 price target on the stock. Jefferies Group also issued estimates for International Business Machines Corp.’s FY2017 earnings at $13.45 EPS and Q2 2018 earnings at $3.32 EPS.

International Business Machines Corp. (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 18th. The technology company reported $2.38 EPS for the quarter, beating the Zacks’ consensus estimate of $2.35 by $0.03. International Business Machines Corp. had a return on equity of 78.32% and a net margin of 14.85%. The firm earned $18.16 billion during the quarter, compared to analysts’ expectations of $18.37 billion. During the same quarter last year, the firm posted $2.35 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/04/21/international-business-machines-corp-to-post-q2-2017-earnings-of-2-69-per-share-jefferies-group-forecasts-ibm.html.

Earnings History and Estimates for International Business Machines Corp. (NYSE:IBM)

A number of other equities research analysts have also issued reports on the stock. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of International Business Machines Corp. in a report on Saturday, January 21st. Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 target price on shares of International Business Machines Corp. in a report on Wednesday. Goldman Sachs Group Inc reduced their target price on shares of International Business Machines Corp. from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Berenberg Bank assumed coverage on shares of International Business Machines Corp. in a report on Tuesday, April 4th. They set a “sell” rating and a $140.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 target price (down from $185.00) on shares of International Business Machines Corp. in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. International Business Machines Corp. presently has an average rating of “Hold” and a consensus target price of $166.83.

Shares of International Business Machines Corp. (NYSE:IBM) opened at 162.30 on Friday. The firm has a 50-day moving average price of $174.10 and a 200-day moving average price of $167.58. The firm has a market cap of $153.08 billion, a PE ratio of 13.11 and a beta of 0.96. International Business Machines Corp. has a 52 week low of $142.50 and a 52 week high of $182.79. International Business Machines Corp. also was the recipient of unusually large options trading activity on Tuesday. Traders acquired 3,300 call options on the company. This is an increase of approximately 315% compared to the typical volume of 795 call options.

Several institutional investors have recently bought and sold shares of the stock. Trust Co raised its position in International Business Machines Corp. by 1.2% in the second quarter. Trust Co now owns 27,776 shares of the technology company’s stock worth $4,216,000 after buying an additional 342 shares in the last quarter. Smith Chas P & Associates PA Cpas raised its position in International Business Machines Corp. by 24.4% in the third quarter. Smith Chas P & Associates PA Cpas now owns 2,914 shares of the technology company’s stock worth $474,000 after buying an additional 571 shares in the last quarter. Somerset Trust Co raised its position in International Business Machines Corp. by 3.8% in the third quarter. Somerset Trust Co now owns 6,351 shares of the technology company’s stock worth $1,008,000 after buying an additional 230 shares in the last quarter. MAI Capital Management raised its position in International Business Machines Corp. by 9.1% in the third quarter. MAI Capital Management now owns 10,958 shares of the technology company’s stock worth $1,741,000 after buying an additional 910 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in International Business Machines Corp. by 0.7% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,648 shares of the technology company’s stock worth $897,000 after buying an additional 41 shares in the last quarter. 58.65% of the stock is owned by institutional investors and hedge funds.

In other news, insider James J. Kavanaugh sold 559 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $178.31, for a total value of $99,675.29. Following the completion of the transaction, the insider now owns 29,856 shares of the company’s stock, valued at $5,323,623.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $179.18, for a total transaction of $895,900.00. Following the completion of the transaction, the insider now directly owns 20,952 shares of the company’s stock, valued at approximately $3,754,179.36. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

International Business Machines Corp. Company Profile

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.

5 Day Chart for NYSE:IBM

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