Royal Bank of Canada Reiterates Outperform Rating for International Business Machines (NYSE:IBM)

International Business Machines (NYSE:IBMGet Free Report)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They presently have a $200.00 target price on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 17.16% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a report on Thursday, May 16th. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, UBS Group boosted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $181.29.

Check Out Our Latest Research Report on IBM

International Business Machines Stock Down 1.7 %

Shares of NYSE:IBM opened at $170.70 on Wednesday. The firm has a fifty day moving average price of $179.53 and a two-hundred day moving average price of $173.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines has a one year low of $125.01 and a one year high of $199.18. The company has a market cap of $156.81 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 4.27 and a beta of 0.74.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines will post 9.91 EPS for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Desjardins Global Asset Management Inc. grew its position in shares of International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after buying an additional 54 shares during the last quarter. Arden Trust Co grew its position in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. Calamos Wealth Management LLC grew its position in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after buying an additional 55 shares during the last quarter. Avion Wealth grew its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

(Get Free Report)

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.

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