International Business Machines Co. (NYSE:IBM) Expected to Post FY2024 Earnings of $9.98 Per Share

International Business Machines Co. (NYSE:IBM) – Research analysts at Wedbush lowered their FY2024 earnings per share (EPS) estimates for shares of International Business Machines in a note issued to investors on Monday, April 29th. Wedbush analyst M. Katri now forecasts that the technology company will post earnings per share of $9.98 for the year, down from their prior forecast of $10.15. Wedbush has a “Neutral” rating and a $160.00 price objective on the stock. The consensus estimate for International Business Machines’ current full-year earnings is $9.94 per share.

A number of other brokerages have also weighed in on IBM. Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research note on Wednesday, April 17th. Societe Generale reiterated a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. UBS Group lifted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Sanford C. Bernstein lifted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, BNP Paribas initiated coverage on International Business Machines in a research report on Thursday. They set an “underperform” rating and a $145.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Price Performance

Shares of NYSE IBM opened at $164.36 on Thursday. International Business Machines has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The business has a 50 day moving average price of $186.54 and a two-hundred day moving average price of $170.87. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market cap of $150.68 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.20%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $29,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines during the 3rd quarter worth about $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the 4th quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC boosted its stake in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.