$18.30 Billion in Sales Expected for IBM (NYSE:IBM) This Quarter

Analysts expect IBM (NYSE:IBM) to announce sales of $18.30 billion for the current quarter, according to Zacks. Five analysts have made estimates for IBM’s earnings, with the highest sales estimate coming in at $18.52 billion and the lowest estimate coming in at $18.13 billion. IBM posted sales of $18.76 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 15th.

According to Zacks, analysts expect that IBM will report full-year sales of $77.51 billion for the current financial year, with estimates ranging from $76.85 billion to $78.19 billion. For the next fiscal year, analysts anticipate that the company will post sales of $79.84 billion, with estimates ranging from $77.13 billion to $82.04 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow IBM.

IBM (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 17th. The technology company reported $3.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.06 by $0.11. The business had revenue of $19.20 billion for the quarter, compared to analyst estimates of $19.20 billion. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 EPS.

Several research firms recently commented on IBM. Wells Fargo & Co raised their price target on shares of IBM from $140.00 to $147.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $152.00 price target on shares of IBM in a report on Monday, August 12th. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Bank of America raised their price target on shares of IBM from $165.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI began coverage on shares of IBM in a report on Wednesday, June 5th. They issued an “outperform” rating and a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $155.29.

In other IBM news, SVP Kenneth M. Keverian sold 2,083 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $132.00, for a total value of $274,956.00. Following the completion of the sale, the senior vice president now owns 34,465 shares of the company’s stock, valued at $4,549,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth M. Keverian sold 2,690 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total transaction of $364,495.00. Following the completion of the sale, the senior vice president now directly owns 34,665 shares of the company’s stock, valued at approximately $4,697,107.50. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $940,430 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of IBM. Next Capital Management LLC grew its position in shares of IBM by 50.0% during the second quarter. Next Capital Management LLC now owns 213 shares of the technology company’s stock worth $29,000 after buying an additional 71 shares in the last quarter. Adell Harriman & Carpenter Inc. acquired a new stake in shares of IBM during the first quarter worth approximately $207,000. Peoples Bank OH acquired a new stake in shares of IBM during the first quarter worth approximately $226,000. Motco grew its position in shares of IBM by 15.6% during the second quarter. Motco now owns 1,665 shares of the technology company’s stock worth $230,000 after buying an additional 225 shares in the last quarter. Finally, Sonora Investment Management LLC grew its position in shares of IBM by 11.5% during the second quarter. Sonora Investment Management LLC now owns 1,802 shares of the technology company’s stock worth $248,000 after buying an additional 186 shares in the last quarter. 55.38% of the stock is owned by institutional investors.

Shares of IBM stock traded up $1.84 during trading hours on Tuesday, hitting $133.76. 2,896,600 shares of the company were exchanged, compared to its average volume of 4,651,829. The firm has a market cap of $116.86 billion, a PE ratio of 9.69, a PEG ratio of 2.00 and a beta of 1.28. IBM has a 1 year low of $105.94 and a 1 year high of $154.36. The company has a quick ratio of 1.79, a current ratio of 1.83 and a debt-to-equity ratio of 3.51. The firm has a fifty day moving average of $143.01 and a 200 day moving average of $138.87.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, August 8th. IBM’s dividend payout ratio (DPR) is 46.92%.

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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