Research Analysts Set Expectations for International Business Machines Corporation’s FY2017 Earnings (NYSE:IBM)

International Business Machines Corporation (NYSE:IBM) – Equities researchers at KeyCorp increased their FY2017 earnings estimates for shares of International Business Machines Corporation in a research note issued on Tuesday. KeyCorp analyst A. Ramnani now anticipates that the technology company will earn $13.78 per share for the year, up from their prior forecast of $13.62.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same period last year, the business earned $2.95 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis.

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A number of other equities analysts also recently issued reports on IBM. UBS AG reiterated a “neutral” rating and set a $167.00 price objective (down from $185.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Cantor Fitzgerald reiterated a “hold” rating and set a $154.00 price objective (down from $166.00) on shares of International Business Machines Corporation in a research note on Wednesday. Royal Bank Of Canada reiterated a “hold” rating and set a $165.00 price objective on shares of International Business Machines Corporation in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of International Business Machines Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $167.00 price objective (up from $165.00) on shares of International Business Machines Corporation in a research note on Friday. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the stock. International Business Machines Corporation currently has a consensus rating of “Hold” and an average target price of $157.80.

International Business Machines Corporation (NYSE:IBM) opened at 147.08 on Friday. International Business Machines Corporation has a 12-month low of $146.51 and a 12-month high of $182.79. The stock has a market capitalization of $138.18 billion, a price-to-earnings ratio of 12.10 and a beta of 0.98. The stock’s 50 day moving average is $153.42 and its 200 day moving average is $165.18.

In other news, Director James W. Owens purchased 1,718 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $153.19 per share, for a total transaction of $263,180.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in IBM. State Street Corp raised its stake in International Business Machines Corporation by 0.4% in the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock valued at $8,915,788,000 after buying an additional 181,993 shares in the last quarter. Norges Bank purchased a new stake in International Business Machines Corporation during the fourth quarter valued at approximately $1,366,710,000. Schwab Charles Investment Management Inc. raised its stake in International Business Machines Corporation by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,516,351 shares of the technology company’s stock valued at $786,478,000 after buying an additional 215,180 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in International Business Machines Corporation by 1.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,719,932 shares of the technology company’s stock valued at $473,649,000 after buying an additional 34,936 shares in the last quarter. Finally, LSV Asset Management raised its stake in International Business Machines Corporation by 2.3% in the first quarter. LSV Asset Management now owns 2,578,404 shares of the technology company’s stock valued at $449,003,000 after buying an additional 59,030 shares in the last quarter. Institutional investors own 58.16% of the company’s stock.

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.

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

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