International Business Machines (NYSE:IBM) Now Covered by Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of International Business Machines (NYSE:IBM) in a research note issued on Thursday, The Fly reports. The firm set a “positive” rating and a $125.00 price target on the technology company’s stock. Evercore ISI’s price target points to a potential upside of 5.18% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group assumed coverage on shares of International Business Machines in a research report on Friday, October 1st. They issued a “buy” rating and a $170.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of International Business Machines in a research report on Friday, October 29th. They issued an “outperform” rating and a $172.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $153.38.

NYSE IBM opened at $118.84 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 2.10. The firm’s fifty day moving average price is $128.50 and its two-hundred day moving average price is $137.32. International Business Machines has a 1 year low of $114.56 and a 1 year high of $152.84. The firm has a market capitalization of $106.52 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, October 19th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.02. International Business Machines had a net margin of 6.40% and a return on equity of 36.23%. The firm had revenue of $17.62 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines will post 10.4 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of International Business Machines by 1.1% in the third quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock valued at $8,964,901,000 after acquiring an additional 722,962 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of International Business Machines by 2.7% in the third quarter. Geode Capital Management LLC now owns 14,756,888 shares of the technology company’s stock valued at $2,044,535,000 after acquiring an additional 392,308 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of International Business Machines by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,446,039 shares of the technology company’s stock valued at $1,971,055,000 after acquiring an additional 93,603 shares in the last quarter. Northern Trust Corp grew its stake in shares of International Business Machines by 0.9% in the second quarter. Northern Trust Corp now owns 10,403,952 shares of the technology company’s stock valued at $1,525,115,000 after acquiring an additional 90,626 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of International Business Machines by 92.8% in the third quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock valued at $956,458,000 after acquiring an additional 3,290,542 shares in the last quarter. Institutional investors and hedge funds own 55.18% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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