Stock Update (NYSE:IBM): IBM Sales Have Fallen In 15 Straight Quarters

[Benzinga] – International Business Machines Corp. (NYSE: IBM ) has experienced 15 back-to-back quarters of plummeting sales. The tech giant’s fourth quarter earnings report on Tuesday weren’t any prettier . Here’s … Read more on this. International Business Machines Corporation (IBM) , valued at $117.85B, started trading this morning at $118.46. Looking at the stock, its one day range is $118.00 to $123.99 with a one year range of $118.00 to $176.30. IBM shares are currently priced at 8.56x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 7.89x forward p/e ratio. The company pays shareholders $5.20 per share in dividend income per year, for a current yield of 3.91%. According to a consensus of 18 analysts, the earnings estimate of $2.90 per share would be $0.01 worse than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $14.97 which would be a $0.05 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $18.82 Billion. If realized, that would be a 3.93% 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. The average price target for IBM shares by the analysts covering the stock is $146.60, which is 23.75% above where the stock opened this morning. See more in (NYSE:IBM) Similar Articles: Stock Update (NYSE:IBM): What to Expect From IBM Earnings Stock Update: International Business Machines Corporation (NYSE:IBM) – IBM Set to Drop 13% in 2015 Stock Update (NYSE:IBM): Globecast Uses Aspera to Speed Global Content Submissions and Deliveries