RBC Capital Lowers International Business Machines Corp. Price Target to $205.00 (IBM)
Research analysts at RBC Capital dropped their price objective on shares of International Business Machines Corp. (NYSE:IBM) from $210.00 to $205.00 in a report released on Tuesday, Analyst Ratings News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price would indicate a potential upside of 14.70% from the company’s current price.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 1.81% on Tuesday, hitting $178.72. 5,579,833 shares of the company’s stock traded hands. International Business Machines Corp. has a 1-year low of $178.71 and a 1-year high of $215.90. The stock’s 50-day moving average is $186.5 and its 200-day moving average is $196.8. The company has a market cap of $195.8 billion and a price-to-earnings ratio of 12.92. International Business Machines Corp. also was the recipient of some unusual options trading on Monday. Investors bought 18,664 put options on the stock. This represents an increase of 109% compared to the typical daily volume of 8,924 put options.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Wednesday, July 17th. The company reported $3.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.77 by $0.14. The company had revenue of $24.92 billion for the quarter, compared to the consensus estimate of $25.39 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts predict that International Business Machines Corp. will post $16.89 earnings per share for the current fiscal year.
A number of other firms have also recently commented on IBM. Analysts at TheStreet reiterated a “buy” rating on shares of International Business Machines Corp. in a research note to investors on Tuesday. Separately, analysts at Barclays Capital downgraded shares of International Business Machines Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $190.00 price target on the stock, down previously from $215.00. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $216.39.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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