Market Update (NYSE:IBM): Mark Fields Elected to IBM Board of Directors

[Business Wire] – The IBM board of directors today elected Mark Fields to the board effective March 1, 2016. Mr. Fields, 55, is president and chief executive officer, Ford Motor Company. Read more on this. International Business Machines Corporation (IBM) , valued at $118.93B, opened this morning at $122.25. Today’s price range has been between $122.24 and $123.61 per share with a trailing 52-week range being $118.00 to $176.30. IBM (IBM) shares are currently priced at 9.04x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.51x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $5.20 per share annually in dividends, yielding 4.24%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $2.08 per share, which would be $0.83 worse than the year-ago quarter and a $0.86 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $13.50 would be a $1.42 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 $18.24 Billion. If realized, that would be a 6.89% decrease over the year-ago quarter. More 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 $132.15, which is 8.10% above where the stock opened this morning. See more in (NYSE:IBM) Similar Articles: Market Update (NYSE:TEL): TE Connectivity Board of Directors Nominate Terrence Curtin, John Davidson and Mark Trudeau to Stand for Election to its Board Market Update (NYSE:MRO): Gaurdie Banister elected to Marathon Oil Corporation Board of Directors Company Update (NYSE:MMM): David B. Dillon Elected to 3M Board of Directors