International Business Machines Corporation (NYSE:IBM) Stock Rating Lowered by BidaskClub

International Business Machines Corporation (NYSE:IBM) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.

A number of other brokerages also recently weighed in on IBM. Vetr downgraded shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $170.05 price target for the company. in a report on Tuesday, April 4th. Berenberg Bank started coverage on shares of International Business Machines Corporation in a report on Tuesday, April 4th. They set a “sell” rating and a $140.00 price target for the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 price objective on shares of International Business Machines Corporation in a research report on Tuesday, April 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $166.00 price objective on shares of International Business Machines Corporation in a research report on Thursday, April 13th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of International Business Machines Corporation in a research report on Tuesday, April 18th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $157.50.

International Business Machines Corporation (NYSE IBM) traded down 0.32% during mid-day trading on Tuesday, hitting $144.89. 3,526,562 shares of the stock traded hands. International Business Machines Corporation has a 52 week low of $143.64 and a 52 week high of $182.79. The firm has a market cap of $135.46 billion, a P/E ratio of 12.03 and a beta of 0.98. The firm’s 50-day moving average price is $152.71 and its 200-day moving average price is $164.52.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Corporation will post $13.73 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.com-unik.info/2017/07/27/international-business-machines-corporation-nyseibm-stock-rating-lowered-by-bidaskclub.html.

In related news, Director James W. Owens bought 1,718 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of International Business Machines Corporation by 0.4% in the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock valued at $8,915,788,000 after buying an additional 181,993 shares in the last quarter. Norges Bank acquired a new position in International Business Machines Corporation during the fourth quarter worth $1,366,710,000. Schwab Charles Investment Management Inc. raised its position in International Business Machines Corporation by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,516,351 shares of the technology company’s stock worth $786,478,000 after buying an additional 215,180 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in International Business Machines Corporation by 1.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,719,932 shares of the technology company’s stock worth $473,649,000 after buying an additional 34,936 shares during the period. Finally, LSV Asset Management raised its position in International Business Machines Corporation by 2.3% in the first quarter. LSV Asset Management now owns 2,578,404 shares of the technology company’s stock worth $449,003,000 after buying an additional 59,030 shares during the period. 58.18% of the stock is currently owned by institutional investors and hedge funds.

About International Business Machines Corporation

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

What are top analysts saying about International Business Machines Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for International Business Machines Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit