International Business Machines Corp. Upgraded to “Buy” by Thomson Reuters/Verus (IBM)
International Business Machines Corp. (NYSE:IBM) was upgraded by stock analysts at Thomson Reuters/Verus from a “hold” rating to a “buy” rating in a report issued on Monday, Stock Ratings Network.com reports.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 0.53% on Monday, hitting $176.85. The stock had a trading volume of 4,844,399 shares. International Business Machines Corp. has a 1-year low of $181.10 and a 1-year high of $215.90. The stock has a 50-day moving average of $188.0 and a 200-day moving average of $199.5. The company has a market cap of $192.8 billion and a price-to-earnings ratio of 12.31.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $3.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.03. The company had revenue of $23.70 billion for the quarter, compared to the consensus estimate of $24.77 billion. During the same quarter in the previous year, the company posted $3.62 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that International Business Machines Corp. will post $16.87 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on IBM. Analysts at Argus downgraded shares of International Business Machines Corp. from a “buy” rating to a “hold” rating in a research note to investors on Friday, October 18th. Separately, analysts at Credit Agricole cut their price target on shares of International Business Machines Corp. from $225.00 to $215.00 in a research note to investors on Thursday, October 17th. They now have an “outperform” rating on the stock. Finally, analysts at Societe Generale cut their price target on shares of International Business Machines Corp. from $193.00 to $187.00 in a research note to investors on Thursday, October 17th. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $202.58.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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