International Business Machines shareholders may benefit from low expectations as the technology company faces a mixed demand environment for IT services.
The consensus among analysts, according to FactSet, is for IBM to report second-quarter revenue of $15.62 billion with adjusted earnings per share of $2.18. Analysts’ estimate for the current quarter’s revenue is $15.07 billion with earnings per share of $2.22.
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International Business Machines shareholders may benefit from low expectations as the technology company faces a mixed demand environment for IT services.
The consensus among analysts, according to FactSet, is for
to report second-quarter revenue of $15.62 billion with adjusted earnings per share of $2.18. Analysts’ estimate for the current quarter’s revenue is $15.07 billion with earnings per share of $2.22.
Last week, Stifel analyst David Grossman reaffirmed his Buy rating and reiterated his $190 price target for IBM stock, citing the company’s robust dividend. The current dividend yield is 3.6%.
“While risk is elevated, given slower-than-expected revenue stabilization, we believe the risk/reward remains attractive,” he wrote. “Catalysts include more consistent software performance and [free cash flow] growth.”
In April, IBM stock fell after the company slightly missed first-quarter revenue expectations as some IT buyers were “a touch more cautious” about spending on discretionary projects, CEO Arvind Krishna said.
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IBM stock is up 32% over the past 12 months, compared with the 29% rise for the
The technology company will report its June quarter earnings after the close on Wednesday.
Write to Tae Kim at tae.kim@barrons.com
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