Stock Update (NYSE:IBM): Why IBM Just Acquired ecx.io, Its Third Digital Agency In A Week

[at Forbes] – IBM just bought its third digital agency in a week, acquiring 200-person European shop ecx.io. Here’s the reason for the spending spree. Read more on this. International Business Machines Corporation (IBM) , with a current market cap of $119.60B, opened this morning at $123.86. Shares have traded today between $122.29 and $124.38 per share and has traded between $118.00 and $176.30 over the past year. IBM (IBM) shares are currently priced at 9.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.94x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $5.20 per share annually in dividends, yielding 4.17%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $2.08 per share, which would be $0.83 worse than the year-ago quarter and a $0.86 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $13.50 is a $1.42 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $18.24 Billion. If reported, that would be a 6.89% decrease over the year-ago quarter. In terms of ratings, 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 it is $132.15, which is 6.69% above where the stock opened. See more in (NYSE:IBM) Similar Articles: Company Update (NYSE:IBM): IBM Signs Agreement to Acquire Aperto to Meet Growing Client Need for Digital Transformation Market Update (NYSE:IBM): IBM Cloud Aids Shop Direct’s Path to Becoming World Class Digital Retailer Stock Update (NYSE:IBM): What to Expect From IBM Earnings
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