Hewlett-Packard Receives “Outperform” Rating from Wells Fargo & Co. (HPQ)
Hewlett-Packard (NYSE:HPQ)‘s stock had its “outperform” rating reiterated by analysts at Wells Fargo & Co. in a research report issued to clients and investors on Friday, AnalystRatingsNetwork.com reports.
The analysts wrote, “We believe Meg Whitman was very optimistic, but balanced and realistic relative to various core market trends and HP’s opportunity – in areas that are challenged or declining, the company is managing its portfolio of assets and aligning the cost structure to the realities; in other areas, there was a general optimism about the company’s portfolio with a focus more on organic innovation,” the report noted. “Systems and processes are now in place and Meg Whitman believes she now has the right business leadership to drive forward.”
Shares of Hewlett-Packard (NYSE:HPQ) traded down 0.37% during mid-day trading on Friday, hitting $27.509. 3,004,742 shares of the company’s stock traded hands. Hewlett-Packard has a 52 week low of $15.85 and a 52 week high of $28.70. The stock’s 50-day moving average is $27.33 and its 200-day moving average is $24.91. The company has a market cap of $52.509 billion and a price-to-earnings ratio of 10.54.
Hewlett-Packard (NYSE:HPQ) last released its earnings data on Tuesday, November 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The company had revenue of $29.13 billion for the quarter, compared to the consensus estimate of $27.91 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that Hewlett-Packard will post $3.66 EPS for the current fiscal year.
A number of other firms have also recently commented on HPQ. Analysts at TheStreet reiterated a “hold” rating on shares of Hewlett-Packard in a research note to investors on Sunday, January 5th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.98.
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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