Market Update: International Business Machines Corporation (NYSE:IBM) – One Reason IBM Stock is Falling Today

[at TheStreet] – IBM stock is down as Steven Mills, executive vice president, software and systems, is retiring after a career spanning more than four decades with the company. Read more on this. International Business Machines Corporation (IBM) , with a current value of $131.59B, began trading this morning at $136.76. A quick look at the market, the company’s stock traded between $134.85 and $136.89 and has traded between $131.65 and $176.30 over the past 12 months. IBM shares are currently priced at 9.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.13x earnings multiple. And for dividend hunters, the company pays shareholders $5.20 per share annually in dividends, yielding 3.78%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $4.82 per share, which would be $0.99 worse than the year-ago quarter and a $0.81 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $14.93 would be a $1.60 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.11 Billion. If realized, that would be a 8.30% decrease over the year-ago quarter. Recently, JMP Securities Initiated IBM at Mkt Outperform (Nov 20, 2015). Previously, Cantor Fitzgerald Initiated IBM at to Hold. Given all the information above, we should disclose to readers that the average price target is $148.85, which is 8.84% above than it opened this morning. See more in (NYSE:IBM) Similar Articles: Market Update: International Business Machines Corporation (NYSE:IBM) – IBM Stock Gaining, Eyes China Air Pollution Business Opportunity Company Update: International Business Machines Corporation (NYSE:IBM) – International Business Machines Corp. Earnings: A Mixed Bag for Big Blue Company Update: International Business Machines Corporation (NYSE:IBM) – What to Look For When International Business Machines Corp. Reports Earnings