Stock Update (NYSE:IBM): Tech Data names new C-level leader

[at American City Business Journals] – Tech Data Corp. has created a new C-level post and is filling it with the veteran of the IT industry. The company named IBM veteran Richard Hume as executive vice president and chief operating officer, … Read more on this. International Business Machines Corporation (IBM) , with a current value of $141.35B, started trading this morning at $144.98. Looking at the equity, the company’s one day range is $144.49 to $147.14 with its 52-week range being $116.90 to $176.30. Priced at 10.78x this year’s forecasted earnings, IBM shares are relatively expensive compared to the industry’s 7.62x forward p/e ratio. The company pays shareholders $5.20 per share in dividend income per year, for a current yield of 3.50%. Consensus earnings for the current quarter by the 20 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 $0.87 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $13.49 would be a $1.43 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 $18.25 Billion. If realized, that would be a 6.84% decrease over the year-ago quarter. Recently, 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 9.25% below where the stock opened this morning. See more in (NYSE:IBM) Similar Articles: Market Update: International Business Machines Corporation (NYSE:IBM) – Datawatch Brings Powerful Self-Service Data Preparation Capabilities to IBM Watson Analytics and IBM Cognos Analytics Users 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) – As IBM Reports, Business Tech Firms Yearn To Grow