IBM (NYSE:IBM) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI started coverage on shares of IBM (NYSE:IBM) in a research report report published on Wednesday, June 5th, 24/7 WallStreet reports. The firm issued an outperform rating and a $150.00 price objective on the technology company’s stock.

IBM has been the topic of several other reports. ValuEngine upgraded shares of IBM from a sell rating to a hold rating in a report on Wednesday, May 1st. Credit Suisse Group began coverage on shares of IBM in a report on Thursday, April 11th. They issued an outperform rating and a $173.00 price objective on the stock. UBS Group set a $160.00 price objective on shares of IBM and gave the company a buy rating in a report on Wednesday, April 17th. Zacks Investment Research downgraded shares of IBM from a hold rating to a sell rating in a report on Monday, April 15th. Finally, BMO Capital Markets lifted their price objective on shares of IBM from $147.00 to $155.00 and gave the company a market perform rating in a report on Wednesday, April 17th. They noted that the move was a valuation call. Two investment 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 stock currently has an average rating of Hold and a consensus price target of $155.17.

IBM traded down $0.62 during midday trading on Wednesday, hitting $137.90. The company had a trading volume of 6,153,948 shares, compared to its average volume of 2,936,415. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.36 and a quick ratio of 1.31. The company has a market capitalization of $122.82 billion, a P/E ratio of 9.99, a PEG ratio of 2.52 and a beta of 1.24. IBM has a twelve month low of $105.94 and a twelve month high of $154.36. The firm has a 50-day moving average price of $134.29.

IBM (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 16th. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. The firm had revenue of $18.18 billion during the quarter, compared to analysts’ expectations of $18.53 billion. IBM had a net margin of 10.98% and a return on equity of 68.76%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 EPS. On average, research analysts anticipate that IBM will post 13.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.62 per share. This is a boost from IBM’s previous quarterly dividend of $1.57. The ex-dividend date was Thursday, May 9th. This represents a $6.48 annualized dividend and a yield of 4.70%. IBM’s dividend payout ratio is currently 46.92%.

In other IBM news, SVP Kenneth M. Keverian sold 2,227 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 32,878 shares of the company’s stock, valued at $4,443,461.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth M. Keverian sold 2,690 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $135.50, for a total value of $364,495.00. Following the transaction, 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 have sold 7,000 shares of company stock valued at $940,430 in the last ninety days. 0.19% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in IBM. Nalls Sherbakoff Group LLC acquired a new position in shares of IBM in the fourth quarter valued at approximately $34,000. Sycomore Asset Management acquired a new position in shares of IBM in the fourth quarter valued at approximately $81,000. Adell Harriman & Carpenter Inc. acquired a new position in shares of IBM in the first quarter valued at approximately $207,000. Peoples Bank OH acquired a new position in shares of IBM in the first quarter valued at approximately $226,000. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of IBM by 16.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,977 shares of the technology company’s stock valued at $279,000 after buying an additional 273 shares during the period. 55.16% of the stock is owned by institutional investors.

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Analyst Recommendations for IBM (NYSE:IBM)

Receive News & Ratings for IBM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBM and related companies with MarketBeat.com's FREE daily email newsletter.