Hewlett-Packard Company’s Outperform Rating Reaffirmed at Wells Fargo & Co. (HPQ)
The analysts wrote, “We believe HP will likely deliver FY14 net income and free cash flow growth even absent revenue growth. While some secular headwinds persist, we believe several catalysts such as new products, mix shift benefit to margins and potential activism/divestitures/M&A could drive multiple expansion.”
Shares of Hewlett-Packard Company (NYSE:HPQ) opened at 33.11 on Tuesday. Hewlett-Packard Company has a one year low of $20.25 and a one year high of $33.90. The stock’s 50-day moving average is $32.5 and its 200-day moving average is $29.45. The company has a market cap of $62.747 billion and a P/E ratio of 12.13. Hewlett-Packard Company also was the recipient of some unusual options trading activity on Monday. Investors bought 39,405 call options on the stock. This is an increase of 377% compared to the average daily volume of 8,264 call options.
Hewlett-Packard Company (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.90 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.06. The company had revenue of $28.20 billion for the quarter, compared to the consensus estimate of $27.19 billion. On average, analysts predict that Hewlett-Packard Company will post $3.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Hewlett-Packard Company’s previous quarterly dividend of $0.15.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital raised their price target on shares of Hewlett-Packard Company from $34.00 to $40.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest upgraded shares of Hewlett-Packard Company from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $37.00 price target on the stock. Finally, analysts at S&P Equity Research upgraded shares of Hewlett-Packard Company to a “buy” rating in a research note on Friday, April 11th. Fourteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $31.55.
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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