IBM Updates Q3 Earnings Guidance

The company (NYSE:IBM) provided earnings per share guidance of $2.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.58. The company issued revenue guidance of $17.6 billion, compared to the consensus revenue estimate of $17.56 billion.IBM also updated its Q3 2020 Pre-Market guidance to 2.58-2.58 EPS.

It  opened at $124.07 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.68. The business’s 50 day moving average is $122.43 and its two-hundred day moving average is $121.00. IBM has a 12-month low of $90.56 and a 12-month high of $158.75. The stock has a market capitalization of $110.49 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 3.34 and a beta of 1.16.

IBM Reports Terrible Q3 Earnings: Worst Revenue Since 2002; Slashes Guidance  | Zero Hedge

IBM (NYSE:IBM) last released its quarterly earnings results on Monday, July 20th. The technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.04. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.72 billion. IBM had a return on equity of 51.06% and a net margin of 10.44%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.17 EPS. Equities analysts forecast that IBM will post 11.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Friday, August 7th. IBM’s dividend payout ratio is currently 50.90%.

A number of research firms recently weighed in on IBM. Bank of America restated a buy rating and issued a $145.00 price target on shares of IBM in a report on Monday, July 20th. Wedbush reiterated a neutral rating on shares of IBM in a report on Thursday, July 16th. Citigroup increased their target price on IBM from $120.00 to $140.00 and gave the company a neutral rating in a report on Tuesday, July 21st. Credit Suisse Group increased their target price on IBM from $150.00 to $155.00 and gave the company an outperform rating in a report on Tuesday, July 21st. Finally, Argus upgraded IBM from a hold rating to a buy rating and set a $155.00 target price on the stock in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $139.13.

IBM Q4 2012 Earnings - Business Insider

In related news, SVP Diane J. Gherson sold 1,215 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $127.00, for a total value of $154,305.00. Following the completion of the sale, the senior vice president now directly owns 30,597 shares in the company, valued at approximately $3,885,819. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Diane J. Gherson sold 1,176 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $126.73, for a total value of $149,034.48. Following the completion of the sale, the senior vice president now owns 31,767 shares of the company’s stock, valued at $4,025,831.91. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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