Stock Update: International Business Machines Corporation (NYSE:IBM) – IBM Announced New Cloud Unit for Its Recent Cloud Acquisitions

[Market Realist] – IBM announced the formation of its new Cloud Video services unit that will encompass IBM’s recent acquisitions: UStream, ClearLeap, Cleversafe, and Aspera Read more on this. International Business Machines Corporation (IBM) , with a current market cap of $117.30B, opened this morning at $119.26. Today, shares have traded between $118.35 and $121.01 per share and has traded between $116.90 and $176.30 over the past 12 months. IBM (IBM) shares are currently priced at 8.73x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.88x earnings multiple for the same period. The company pays shareholders $5.20 per share annually in dividends, yielding 4.04%. According to a consensus of 19 analysts, the earnings estimate of $2.08 per share would be $0.83 worse than the year-ago quarter and a $0.86 sequential decrease. The full-year EPS estimate is $13.50, which would be a $1.42 better than last year. 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. When considering if the stock is under or overvalued, the average price target is $132.15, which is 10.81% above where the stock opened this morning. See more in (NYSE:IBM) Similar Articles: Company Update: International Business Machines Corporation (NYSE:IBM) – Chumbak Selects IBM Cloud to Accelerate Business Growth Market Update: International Business Machines Corporation (NYSE:IBM) – CSC Embraces IBM Cloud to Accelerate Hybrid Cloud Adoption Stock Update: International Business Machines Corporation (NYSE:IBM) – New IBM Cloud Tools Accelerate Developer Use of Streaming Analytics and Data Warehouse Services on Bluemix