Hewlett-Packard Stock Rating Upgraded by Mizuho (HPQ)
Hewlett-Packard (NYSE:HPQ) was upgraded by analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $22.00 price target on the stock, up from their previous price target of $18.00. Mizuho’s price objective would indicate a potential downside of 1.43% from the company’s current price.
Hewlett-Packard (NYSE:HPQ) traded down 1.24% during mid-day trading on Thursday, hitting $22.32. 34,004,468 shares of the company’s stock traded hands. Hewlett-Packard has a 1-year low of $11.35 and a 1-year high of $27.78. The stock has a 50-day moving average of $21.79 and a 200-day moving average of $23.28. The company’s market cap is $42.895 billion. Hewlett-Packard also was the recipient of unusually large options trading on Monday. Stock traders purchased 30,600 put options on the stock. This represents an increase of approximately 277% compared to the typical volume of 8,109 put options.
Hewlett-Packard (NYSE:HPQ) last posted its quarterly earnings results 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets cut their EPS estimates on shares of Hewlett-Packard in a research note on Tuesday. They now have a “market perform” rating and a $24.00 price target on the stock. They previously had a $27.00 price target on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Hewlett-Packard in a research note to investors on Tuesday. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Hewlett-Packard in a research note to investors on Monday. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Hewlett-Packard presently has an average rating of “Hold” and a consensus price target of $22.49.
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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