IBM - International Business Machines Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
143.00
+0.96 (+0.68%)
At close: 4:01PM EDT

143.00 0.00 (0.00%)
After hours: 5:17PM EDT

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Previous Close142.04
Open142.54
Bid142.82 x 2900
Ask143.09 x 800
Day's Range141.81 - 143.70
52 Week Range105.94 - 152.95
Volume2,583,096
Avg. Volume3,738,378
Market Cap126.041B
Beta (3Y Monthly)1.56
PE Ratio (TTM)14.76
EPS (TTM)9.69
Earnings DateOct 16, 2019
Forward Dividend & Yield6.48 (4.54%)
Ex-Dividend Date2019-08-08
1y Target Est153.05
Trade prices are not sourced from all markets
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  • GlobeNewswire

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    IBM Reports Earnings Tomorrow. Here’s What to Expect.

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  • Hybrid Cloud Strategy Will Help International Business Machines Stock
    InvestorPlace

    Hybrid Cloud Strategy Will Help International Business Machines Stock

    International Business Machines (NYSE:IBM) is depending on its hybrid cloud strategy to boost its slowing growth. IBM needs to gain traction in the hybrid cloud market with its recent Red Hat acquisition. If it succeeds, IBM stock will do well over the next year.Source: JHVEPhoto / Shutterstock.com Companies use hybrid or multi-cloud services that Red Hat offers to manage their software across different cloud services and their own data centers. IBM is counting on Red Hat to give it clout in competition against Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT)Companies use separate cloud services to put their data to work. These services sort, group and analyze it quickly and securely. For example, Red Hat's software helps companies put older software applications in data centers and in various cloud services.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Beverage Stocks to Buy Now IBM's strategy to turn around its software revenue is hanging on this, according to the Wall Street Journal. One analyst quoted by the Journal called the Red Hat deal a "bet-the-company move" by CEO Ginni Rometty. This is because none of her other acquisitions in the past seven years have amounted to anything great. Upcoming Earnings Will Highlight Red Hat's BenefitsOn Oct. 16, IBM will report its third-quarter earnings. This will be the first full quarter of having Red Hat as a separate subsidiary. This will be important as it will begin to show how Red Hat will add to IBM's overall growth plans.Red Hat has been growing its revenues at a much faster growth rate than IBM. Its three-year revenue growth rate is 20% against 1.5% for IBM.The upside for IBM and Red Hat in the hybrid market is huge. IBM claims this is a $1.2 trillion opportunity. For example, by 2023, 50% of businesses will have moved to the "write once, run anywhere" multi-cloud environment. This is up from 10% of businesses having that ability now.IBM's cloud revenue as of Q2 was $19.5 billion for the past 12 months. This represents just 25.5% of its total revenue during that period. Red Hat is expected to add $500 million to IBM's free cash flow by 2020 and $1 billion by 2021. As of Q2 IBM had made $12.2 billion in free cash flow over the last 12 months. So that means even if Red Hat contributed $1 billion this year, the increase in free cash flow would be 8.1%. IBM Stock Is Beaten Down Compared to its PeersIn June 2019 a UBS analyst upgraded IBM to a "buy" rating and lifted his target to $180 per share. He believes that IBM's revenues will turn around as it focuses on higher-margin businesses like cloud computing, analytics and security.IBM stock is trading for just 11 times forward earnings. This seems too cheap for a company that now has a chance to turn its earnings and cash flow around with its Red Hat acquisition.Moreover, with the 4.5% dividend yield, investor receives a nice return while waiting for IBM stock to rise. This is significantly higher than the average 1.9% dividend yield of the S&P 500. Value Investing and Ignoring the MarketTwo famous value investors were interviewed recently in an article in the Harvard Business Review titled "Value Investing, Human Behavior -- and Why You Should Ignore the Market." In the article the investors were asked why some companies appear to be selling for significant discounts to their intrinsic value. One of the investors, Charles Brandes, had a great answer:"…If you do a deep analysis of a company that is in trouble, sometimes you can see that the problem is not going to last forever. For example, Volkswagen during its emission crisis, and BP during the oil-spill debacle. These were horrible, but temporary, situations for really good companies -- and that can provide an opportunity to buy them below their actual value."I believe that is the situation here with IBM stock at these prices. You can see that the Red Hat is going to act as a catalyst for the company to reach its true earnings potential over the coming years. IBM Stock Has a Good Chance of Paying Off for Value InvestorsIBM stock has discounted a lot of bad news. It seems none of the benefits of the Red Hat acquisition have been incorporated into its valuation. This seems like a good entry point for value investors.They need to be willing to wait for the Red Hat acquisition to start adding value for IBM. But it seems the wait will be worth it in the long run.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. Mark Hake runs the Total Yield Value Guide which you can review here. The Guide focuses on high total yield value stocks, which includes both dividend and buyback yields. In addition, subscribers a two-week free trial. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post Hybrid Cloud Strategy Will Help International Business Machines Stock appeared first on InvestorPlace.

  • Q3 Earnings Will Be Key for IBM Stock
    InvestorPlace

    Q3 Earnings Will Be Key for IBM Stock

    Investors have given International Business Machines (NYSE:IBM) stock another chance. A market-wide selloff and IBM's return to declining revenue sent International Business Machines stock to a nine-year low in December. Since then, IBM stock price has bounced about 36%.Source: JHVEPhoto / Shutterstock.com But investors' patience won't last forever. IBM needs to start showing real, consistent growth, and its Q3 earnings on Wednesday afternoon would be a great place to start.If the company can convince the market that it's a legitimate competitor in the cloud wars, IBM stock can definitely climb. Meanwhile, IBM's largest acquisition ever closed nine days into Q3. As a result, IBM's management will have the opportunity to detail the early performance of the company it bought, Red Hat.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs I wrote in August, I'm not convinced that the outlook of IBM stock is positive. Its business, at least in terms of revenue, has declined for most of this decade. It's trailing in the cloud competition. The Red Hat acquisition makes sense, but it wasn't cheap. * 7 A-Rated Stocks to Buy for the Rest of 2019 That said, International Business Machines stock isn't priced for growth. Its dividend is attractive. And there's still time for IBM to change the outlook of its shares, which have been in a consistent downtrend going back to 2013.Its Q3 earnings are a huge opportunity for IBM to show that it's growing again. If it does so, investors can become more confident in International Business Machines stock. But, at least for now, IBM remains a "show me" story. Earnings Can Boost IBM Stock PriceIBM has, quite simply, returned to its old ways. Its Q4 2017 results mercifully ended a streak of 22 consecutive quarters of declining year-over-year revenue.Two more quarters of growth followed, but IBM couldn't keep the momentum going. For the last four quarters, the company's sales have fallen YoY, and the Street expects the streak to reach five on Wednesday.Those declines don't mean IBM stock should be sold. In fact, including dividends, International Business Machines stock actually has provided a positive return over the past year (even if that return is about 1%). But IBM needs to start growing again, excluding acquisitions, at some point for the stock to rally.I don't think the company grew, excluding acquisitions, in Q3. But if management can inspire confidence that a positive turning point is coming, IBM stock price could climb. Is International Business Machines Stock Undervalued Because of Its Cloud Business?Two key aspects of IBM's business can inspire that confidence. The first is its cloud unit.IBM isn't a leader in cloud platforms. Amazon.com (NASDAQ:AMZN), thanks to the runaway success of its Amazon Web Services business, is clearly in first place. Microsoft's (NASDAQ:MSFT) Azure unit is in second place.But IBM probably is better off than some investors might think. It's likely fighting with Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL) for third place. And Red Hat should help on that front, given its expertise in hybrid cloud.Other companies' cloud units have tremendously boosted their valuations. One analyst estimated that AWS could be worth half a billion dollars. A GOOG stock bull valued Alphabet's cloud business at $225 billion.As Bloomberg noted, even the latter figure is twice the market cap of IBM - and well above its enterprise value. The revenue of the two companies is likely similar at the moment, and the bullish Deutsche Bank analyst estimated that Google's cloud unit could generate $38 billion of revenue in 2025 That's roughly double IBM's 2018 cloud revenue - which continues to grow.So it's possible to assert that IBM's cloud business can meaningfully boost IBM stock. But there's one catch. Google and Amazon aren't losing on-premise-computing revenue amid the shift to cloud computing. The growth of the cloud is entirely positive for them.In contrast, IBM's efforts are causing its revenue from its legacy storage products to drop. That's a key reason why its overall revenue is falling despite the solid growth of its key businesses.But IBM's cloud business won't move IBM stock price higher unless its performance improves. Over the last 12 months, its cloud revenue has increased 8%, excluding currency fluctuations. That isn't enough to boost International Business Machines stock. And so investors will watch closely to see if that growth accelerated in Q3. Returns From Red HatIBM's comments about Red Hat will also be closely examined. Red Hat's revenue was growing in the high-teen-percentage levels, excluding currency fluctuations, before it was acquired. It needs to maintain that growth under IBM's ownership, for two reasons.First, acquisitions always are fraught with risk. They usually look great on paper, though IBM stock did fall 7% in the two sessions after the deal was announced last October. (But a plunging stock market likely didn't help IBM stock price.) In practice, integrating acquisitions is always dicey. After Red Hat's CFO was summarily dismissed this week, albeit due to a violation of "workplace standards," investors will want to be reassured that the merger is progressing according to plan.Second, Red Hat is a huge part of the company's cloud strategy. IBM already has transitioned its software portfolio to run on Red Hat's OpenShift. IBM did not buy Red Hat to have another asset. The deal is an integral part of IBM's strategy going forward and a huge component of its plan to get its revenue growing again.And IBM stock at this point, essentially, is a bet on that plan. Trading at 10.5 times its forward earnings, IBM stock is priced for basically zero growth. For most of this decade, that's been about right. For International Business Machines stock to rise, the company needs to change those expectations. A strong Q3 report and some good news on the cloud front would be important first steps.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Q3 Earnings Will Be Key for IBM Stock appeared first on InvestorPlace.

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    American City Business Journals

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