International Business Machines Corp. (NYSE:IBM) shares, rose in value, with the stock price up by 0.64% to the previous day’s close as strong demand from buyers drove the stock to $189.14.
Actively observing the price movement in the last trading, the stock closed the session at $187.94. The value of beta (5-year monthly) was 0.71 whereas the PE ratio was 23.29 over 12-month period. Referring to stock’s 52-week performance, its high was $199.18, and the low was $120.55. On the whole, IBM has fluctuated by -3.58% over the past month.
With the market capitalization of International Business Machines Corp. currently standing at about $173.39 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 25, 2024. The company’s Forward Dividend Ratio is 6.64, with its dividend yield at 3.51%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.59, which is expected to increase to $2.41 for fiscal year $10.1 and then to about $10.67 by fiscal year 2025. Data indicates that the EPS growth is expected to be 5.00% in 2025, while the next year’s EPS growth is forecast to be 5.60%.
Analysts have estimated the company’s revenue for the quarter at $14.57 billion, with a low estimate of $14.4 billion and a high estimate of $14.69 billion. According to the average forecast, sales growth in current quarter could jump up 2.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $63.8 billion, representing an increase of 3.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IBM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.57, with the price of IBM currently trading nearly -1.53% and 0.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.97, while the 7-day volatility ratio is showing 1.62% which for the 30-day chart, stands at 1.64%. Furthermore, International Business Machines Corp. (IBM)’s beta value is 0.71, and its average true range (ATR) is 3.19.
A comparison of International Business Machines Corp. (IBM) with its peers suggests the former has fared considerably weaker in the market. IBM showed an intraday change of 0.64% in last session, and over the past year, it grew by 43.72%%.
Data on historical trading for International Business Machines Corp. (NYSE:IBM) indicates that the trading volumes over the past 10 days have averaged 3.62 million and over the past 3 months, they’ve averaged 5.13 million. According to company’s latest data on outstanding shares, there are 916.75 million shares outstanding.
Nearly 0.10% of International Business Machines Corp.’s shares belong to company insiders and institutional investors own 60.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.33 million shares as on Mar 15, 2024, resulting in a short ratio of 4.64. According to the data, the short interest in International Business Machines Corp. (IBM) stood at 2.55% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 21.61 million. The stock has risen by 15.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IBM stock heading into the next quarter.
