The trading price of International Business Machines Corp. (NYSE:IBM) closed lower on Monday, October 28, and closing at $212.91, -0.82% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $212.71 and $216.25. The company’s P/E ratio in the trailing 12-month period was 30.99, while its 5Y monthly beta was 0.697. In examining the 52-week price action we see that the stock hit a 52-week high of $237.37 and a 52-week low of $141.58. Over the past month, the stock has lost -3.59% in value.
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International Business Machines Corp., whose market valuation is $196.12 billion at the time of this writing, is expected to release its quarterly earnings report in November. The dividend yield on the company stock is 3.13%, while its Forward Dividend ratio is 6.66. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 3.77 per share this quarter, however they have predicted annual earnings per share of 10.24 for current year and 10.61 for next year.
Analysts have forecast the company to bring in revenue of 17.63B for the current quarter, with the likely lows of 17.54B and highs of 17.8B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 62.93B.
On the technical side, indicators suggest IBM has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned IBM a recommendation rating is 12. Out of them, 4 rate it a Hold, while 8 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged International Business Machines Corp. (IBM) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 6.20, which symbolizes a positive outlook. A quick review shows that IBM’s price is currently -6.49% off the SMA20 and -1.34% off the SMA50. The RSI metric on the 14-day chart is currently showing 33.57, and weekly volatility stands at 1.68%. When measured over the past 30 days, the indicator reaches 1.54%. International Business Machines Corp. (NYSE:IBM)’s beta value is currently sitting at 0.70, while the Average True Range indicator is currently displaying 4.26. With analysts defining $112-$385 as the low and high price targets, we arrive at a consensus price target of $185 for the trailing 12-month period. The current price is about 47.4% off the estimated low and -80.83% off the forecast high, based on this estimate. Investors will be thrilled if IBM’s share price rises to $185, which is the median consensus price. At that level, IBM’s share price would be 13.11% above current price.
To see how International Business Machines Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: IBM stock’s performance was -0.82% in the latest trading, and 48.10% in the past year. International Business Machines Corp. has a P/E ratio of 30.99.
An evaluation of the daily trading volume of International Business Machines Corp. (NYSE:IBM) indicates that the 3-month average is 3.81 million. However, this figure has increased over the past 10 days to an average of 5.23.
Currently, records show that 921.15 million of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 60.75%. The stats also highlight that short interest as of 2024-10-15, stood at 23.69 million shares, resulting in a short ratio of 6.0 at that time. From this, we can conclude that short interest is 257.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 23.16 million. However, since the stock’s price has seen 30.18% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
