In the latest trading session, International Business Machines Corporation (IBM) closed at $170.67, reflecting a -1.74% adjustment from the previous day. This decline was smaller than the S&P 500’s 0.74% loss, but larger than the Nasdaq’s 0.39% decrease and the Dow Jones’ 1.53% drop.
Over the past month, IBM shares have lost 5.65%, underperforming the Computer & Technology sector’s gain of 10.43% and the S&P 500’s 6.06% gain during the same period. Analysts are eagerly awaiting IBM’s upcoming earnings release, with an estimated EPS of $2.17, down 0.46% from the previous year. Revenue is expected to increase by 0.67% to $15.58 billion compared to the same quarter last year.
Looking ahead, Zacks Consensus Estimates predict earnings of $9.91 per share and revenue of $63.04 billion for the full year, showing positive changes compared to the previous year. Analysts’ estimate revisions can signal business trends and affect stock price momentum, which is why the Zacks Rank model considers these changes. Currently, IBM holds a Zacks Rank #3 (Hold).
The company’s valuation is significant, with a Forward P/E ratio of 17.52, in line with the industry average. IBM also has a PEG ratio of 4.28, higher than the sector average of 2.51, indicating potential overvaluation. The Computer – Integrated Systems industry, part of the Computer and Technology sector, is ranked at 90 out of over 250 industries.
It is important for investors to track industry rankings and stock metrics to make informed decisions. Using Zacks.com can help investors stay updated on stock movements and trends. For more insights, investors can access Zacks Investment Research for the latest recommendations and analysis.
In conclusion, IBM’s recent stock performance, analyst estimates, and industry rankings provide valuable information for investors looking to make informed decisions in the tech sector. Tracking key metrics and industry trends can help investors navigate market volatility and potential opportunities for growth.
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https://finance.yahoo.com/news/ibm-ibm-suffers-larger-drop-214509938.html