IBM (NYSE:IBM) Issues Earnings Results

IBM (NYSE:IBM) posted its earnings results on Wednesday. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11, RTT News reports. IBM had a net margin of 10.98% and a return on equity of 68.76%. The business had revenue of $19.20 billion during the quarter, compared to the consensus estimate of $19.20 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. IBM updated its FY 2019 guidance to $13.90 EPS and its FY19 guidance to $13.90 EPS.

Shares of IBM traded down $0.46 during trading hours on Wednesday, reaching $143.07. 4,596,151 shares of the stock traded hands, compared to its average volume of 3,788,136. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.31 and a current ratio of 1.36. IBM has a 52-week low of $105.94 and a 52-week high of $154.36. The company’s 50-day simple moving average is $137.01. The company has a market capitalization 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.

In other IBM news, SVP Kenneth M. Keverian sold 2,690 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total value of $364,495.00. Following the sale, the senior vice president now owns 34,665 shares in the company, valued at approximately $4,697,107.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $135.15, for a total transaction of $300,979.05. Following the completion of the sale, the senior vice president now owns 32,878 shares in the company, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,000 shares of company stock worth $940,430. 0.19% of the stock is owned by corporate insiders.

A number of research firms have commented on IBM. UBS Group set a $160.00 target price on shares of IBM and gave the stock a “buy” rating in a research report on Wednesday, April 17th. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Citigroup cut their target price on shares of UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Zacks Investment Research downgraded shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Finally, Evercore ISI began coverage on shares of Sensata Technologies in a research report on Wednesday, June 5th. They issued an “in-line” rating and a $50.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $155.17.

IBM Company Profile

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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