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IBM (IBM) Stock Moves -0.56%: What You Should Know
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The most recent trading session ended with IBM (IBM - Free Report) standing at $181.25, reflecting a -0.56% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.
Shares of the technology and consulting company have depreciated by 4.61% over the course of the past month, underperforming the Computer and Technology sector's loss of 0.51% and the S&P 500's loss of 0.85%.
Market participants will be closely following the financial results of IBM in its upcoming release. The company plans to announce its earnings on April 24, 2024. The company is forecasted to report an EPS of $1.59, showcasing a 16.91% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $14.56 billion, indicating a 2.18% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.07 per share and a revenue of $63.79 billion, signifying shifts of +4.68% and +3.12%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for IBM. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. IBM presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that IBM has a Forward P/E ratio of 18.11 right now. This signifies a premium in comparison to the average Forward P/E of 16.96 for its industry.
It's also important to note that IBM currently trades at a PEG ratio of 3.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. IBM's industry had an average PEG ratio of 2.61 as of yesterday's close.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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IBM (IBM) Stock Moves -0.56%: What You Should Know
The most recent trading session ended with IBM (IBM - Free Report) standing at $181.25, reflecting a -0.56% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.
Shares of the technology and consulting company have depreciated by 4.61% over the course of the past month, underperforming the Computer and Technology sector's loss of 0.51% and the S&P 500's loss of 0.85%.
Market participants will be closely following the financial results of IBM in its upcoming release. The company plans to announce its earnings on April 24, 2024. The company is forecasted to report an EPS of $1.59, showcasing a 16.91% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $14.56 billion, indicating a 2.18% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.07 per share and a revenue of $63.79 billion, signifying shifts of +4.68% and +3.12%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for IBM. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. IBM presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that IBM has a Forward P/E ratio of 18.11 right now. This signifies a premium in comparison to the average Forward P/E of 16.96 for its industry.
It's also important to note that IBM currently trades at a PEG ratio of 3.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. IBM's industry had an average PEG ratio of 2.61 as of yesterday's close.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.