International Business Machines Co. shares on the New York Stock Exchange fell 0.5% on Wednesday, trading as low as $175.91 and closing at $176.45, with 467,442 shares traded, significantly lower than the average volume. The stock had previously closed at $177.30.
Various analysts have issued ratings on IBM, with Royal Bank of Canada reissuing an “outperform” rating and a price target of $200. UBS Group and Sanford C. Bernstein also provided price targets for the company. Bolsa.com upgraded the company from “hold” to “buy,” while Wedbush adjusted their target price for IBM. Overall, the stock has received mixed ratings, with an average rating of “hold” and a target price of $182.53.
IBM’s financial performance includes a quick ratio of 1.09, a current ratio of 1.13, and a debt-to-equity ratio of 2.32. The stock’s moving averages are $169.55 for the 50-day period and $176.76 for the 200-day period. IBM’s market capitalization is $161.43 billion, with a P/E ratio of 19.90 and a price-to-earnings-to-growth ratio of 4.34.
In its latest earnings report, IBM exceeded analysts’ expectations with an earnings per share of $1.68 and revenue of $14.46 billion for the quarter. The company’s net margin was 13.18% with a return on equity of 40.21%. Analysts anticipate IBM to post $9.9 per share for the fiscal year.
IBM also announced an increased quarterly dividend of $1.67, reflecting a yield of 3.80%. Institutional investors have shown interest in IBM, with various firms acquiring new stakes in the company recently.
International Business Machines Corporation provides integrated solutions worldwide across software, consulting, infrastructure, and finance segments. The company focuses on hybrid cloud and AI platforms to drive digital and AI transformations for its customers.
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