Hewlett-Packard Price Target Cut to $24.00 by Analysts at Barclays Capital (HPQ)
Analysts at Barclays Capital reduced their price target on shares of Hewlett-Packard (NYSE:HPQ) from $26.00 to $24.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings Network.com reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s price objective points to a potential upside of 12.15% from the company’s current price.
Shares of Hewlett-Packard (NYSE:HPQ) traded up 0.42% during mid-day trading on Wednesday, hitting $21.40. The stock had a trading volume of 16,229,263 shares. Hewlett-Packard has a one year low of $11.35 and a one year high of $27.78. The stock has a 50-day moving average of $22.72 and a 200-day moving average of $23.35. The company’s market cap is $41.127 billion. Hewlett-Packard also saw some unusual options trading activity on Wednesday. Traders bought 67,615 call options on the company. This is an increase of approximately 416% compared to the typical daily volume of 13,111 call options.
Hewlett-Packard (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The company had revenue of $27.20 billion for the quarter, compared to the consensus estimate of $27.29 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts predict that Hewlett-Packard will post $3.56 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Hewlett-Packard (NYSE:HPQ) in a research note to investors on Friday, September 27th. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Hewlett-Packard (NYSE:HPQ) in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $20.00 price target on the stock. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $22.95.
Hewlett-Packard Company (NYSE:HPQ) is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the Government, health and education sectors.
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