Stock Update: International Business Machines Corporation (NYSE:IBM) – IBM Opens Bluemix Garage in Europe to Fuel Cloud Development

[PR Newswire] – ARMONK, N.Y. and NICE, France, March 22, 2016 /PRNewswire/ — IBM (NYSE: IBM ) today announced the opening of a Bluemix Garage in Nice, France to help European organizations of all sizes and industries … Read more on this. International Business Machines Corporation (IBM) , valued at $143.14B, started trading this morning at $148.06. During today’s session, IBM traded between $147.84 to $149.28 with the price of the stock fluctuating between $116.90 to $176.30 over the last 52 weeks. Priced at 11.02x this year’s forecasted earnings, IBM shares are relatively expensive compared to the industry’s 7.51x forward p/e ratio. The company pays shareholders $5.20 per share in dividend income per year, for a current yield of 3.54%. According to a consensus of 20 analysts, the earnings estimate of $2.08 per share would be $0.83 worse than the year-ago quarter and a $0.87 sequential decrease. The full-year EPS estimate is $13.49 which would be a $1.43 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $18.25 Billion. If realized, that would be a 6.84% decrease over the year-ago quarter. In terms of ratings, Morgan Stanley upgraded IBM from Equal-Weight to Overweight (Feb 18, 2016). Previously, JMP Securities Initiated IBM at to Mkt Outperform. Investors should keep in mind is that the average price target is $131.57, which is 11.14% below where the stock opened this morning. See more in (NYSE:IBM) Similar Articles: Stock Update: International Business Machines Corporation (NYSE:IBM) – IBM Opens First Cloud Data Center in South Africa Stock Update: International Business Machines Corporation (NYSE:IBM) – IBM Announced New Cloud Unit for Its Recent Cloud Acquisitions Market Update: International Business Machines Corporation (NYSE:IBM) – CSC Embraces IBM Cloud to Accelerate Hybrid Cloud Adoption