In the latest trading session, IBM closed at $165.63, a decrease of -0.85% compared to the previous day. This change was smaller than the overall market’s losses, with the S&P 500 dropping by 0.6%. The Dow Jones and Nasdaq also saw declines of 0.86% and 1.08%, respectively.
Over the past month, IBM’s stock has gained 1.59%, falling behind the Computer & Technology sector’s 7.76% increase and the S&P 500’s 3.15% gain. Investors and analysts are eagerly awaiting IBM’s upcoming earnings release scheduled for July 24, 2024. The company is expected to report an EPS of $2.17, a decrease of 0.46% from the previous year. Revenue for the quarter is projected to be $15.58 billion, up 0.67% year-over-year.
Looking at the full fiscal year, analysts are estimating earnings of $9.91 per share and revenue of $63.04 billion, reflecting changes of +3.01% and +1.91%, respectively. Investors should monitor any recent revisions to analyst forecasts as these can impact the stock price in the short term. Positive estimate revisions typically suggest confidence in the company’s performance.
IBM currently holds a Zacks Rank of #3 (Hold) and has a Forward P/E ratio of 16.85, in line with the industry average. The company’s PEG ratio, indicating its expected earnings growth rate, is 4.12, higher than the industry average of 2.51. The embedded computer systems industry, to which IBM belongs, is ranked 77 out of 250+ industries, in the top 31%.
It is advisable to stay updated with Zacks.com for comprehensive information on IBM’s stock performance and industry trends. Zacks Investment Research offers valuable insights and recommendations for investors looking to make informed decisions in the stock market.
Article Source
https://finance.yahoo.com/news/ibm-ibm-dips-more-broader-214514759.html