International Business Machines Corporation (NYSE:IBM) issued its quarterly earnings data on Tuesday. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.02, Bloomberg Earnings reports. The company had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $3.29 earnings per share. International Business Machines Corporation updated its FY17 guidance to at least $13.80 EPS.

International Business Machines Corporation (NYSE:IBM) opened at 146.54 on Wednesday. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The company has a 50 day moving average price of $145.27 and a 200 day moving average price of $151.70. The firm has a market capitalization of $136.57 billion, a price-to-earnings ratio of 12.16 and a beta of 0.95.

Several institutional investors and hedge funds have recently modified their holdings of the company. ETF Managers Group LLC acquired a new stake in International Business Machines Corporation during the second quarter worth approximately $121,000. Mountain Capital Investment Advisors Inc acquired a new stake in International Business Machines Corporation during the second quarter worth approximately $194,000. ETRADE Capital Management LLC acquired a new stake in International Business Machines Corporation during the second quarter worth approximately $207,000. Hugh Johnson Advisors LLC grew its stake in International Business Machines Corporation by 0.9% during the second quarter. Hugh Johnson Advisors LLC now owns 1,403 shares of the technology company’s stock worth $216,000 after purchasing an additional 12 shares during the period. Finally, IHT Wealth Management LLC grew its stake in International Business Machines Corporation by 8.6% during the second quarter. IHT Wealth Management LLC now owns 1,455 shares of the technology company’s stock worth $298,000 after purchasing an additional 115 shares during the period. Institutional investors own 57.84% of the company’s stock.

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A number of research analysts have issued reports on IBM shares. Cleveland Research started coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They set a “neutral” rating for the company. Vetr cut International Business Machines Corporation from a “hold” rating to a “sell” rating and set a $150.26 price objective for the company. in a report on Monday, June 26th. Royal Bank Of Canada reissued a “hold” rating and set a $165.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Jefferies Group LLC reissued an “underperform” rating and set a $125.00 price objective (down from $135.00) on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Finally, Guggenheim reissued a “hold” rating on shares of International Business Machines Corporation in a report on Friday, July 14th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $157.12.

International Business Machines Corporation Company Profile

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 for International Business Machines Corporation (NYSE:IBM)

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