KeyCorp Comments on IBM’s Q3 2019 Earnings (IBM)

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IBM (NYSE:IBM) – KeyCorp lifted their Q3 2019 earnings per share (EPS) estimates for shares of IBM in a research note issued to investors on Tuesday, April 16th. KeyCorp analyst A. Ramnani now forecasts that the technology company will post earnings per share of $3.62 for the quarter, up from their previous forecast of $3.61. KeyCorp also issued estimates for IBM’s FY2020 earnings at $14.18 EPS.

Several other brokerages also recently weighed in on IBM. Citigroup reaffirmed a “neutral” rating and issued a $140.00 target price (up previously from $130.00) on shares of IBM in a research report on Wednesday. Zacks Investment Research downgraded IBM from a “hold” rating to a “sell” rating in a report on Monday. Credit Suisse Group assumed coverage on IBM in a report on Thursday, April 11th. They issued an “outperform” rating and a $173.00 price target for the company. BMO Capital Markets upped their price objective on IBM from $147.00 to $155.00 and gave the company a “market perform” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, UBS Group set a $160.00 price target on IBM and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $155.72.

Shares of NYSE IBM opened at $139.11 on Thursday. IBM has a 1-year low of $105.94 and a 1-year high of $154.36. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $128.05 billion, a PE ratio of 10.07, a P/E/G ratio of 2.55 and a beta of 1.25.

IBM (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 16th. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.03. IBM had a return on equity of 68.61% and a net margin of 10.97%. The firm had revenue of $18.18 billion during the quarter, compared to the consensus estimate of $18.53 billion. During the same quarter in the previous year, the business earned $2.45 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year.

Several large investors have recently modified their holdings of IBM. Resource Management LLC raised its stake in shares of IBM by 3.7% in the fourth quarter. Resource Management LLC now owns 3,030 shares of the technology company’s stock valued at $344,000 after acquiring an additional 109 shares during the last quarter. Cigna Investments Inc. New raised its position in IBM by 0.4% in the 4th quarter. Cigna Investments Inc. New now owns 26,813 shares of the technology company’s stock worth $3,048,000 after purchasing an additional 115 shares during the last quarter. Burns J W & Co. Inc. NY raised its position in IBM by 6.7% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,996 shares of the technology company’s stock worth $282,000 after purchasing an additional 125 shares during the last quarter. ST Germain D J Co. Inc. raised its position in IBM by 2.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,235 shares of the technology company’s stock worth $595,000 after purchasing an additional 127 shares during the last quarter. Finally, Edmp Inc. raised its position in IBM by 2.3% in the 4th quarter. Edmp Inc. now owns 11,032 shares of the technology company’s stock worth $1,254,000 after purchasing an additional 243 shares during the last quarter. 55.58% of the stock is currently owned by institutional investors.

In other IBM news, insider Diane J. Gherson sold 5,754 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $135.67, for a total transaction of $780,645.18. Following the transaction, the insider now directly owns 23,117 shares in the company, valued at $3,136,283.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Diane J. Gherson sold 1,989 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $137.25, for a total value of $272,990.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,867 shares of company stock valued at $2,877,569. 0.19% of the stock is owned by corporate insiders.

About IBM

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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Earnings History and Estimates for IBM (NYSE:IBM)

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