Hewlett-Packard Company Sets New 1-Year High on Analyst Upgrade (HPQ)
Hewlett-Packard Company (NYSE:HPQ)’s share price reached a new 52-week high on Friday after Mizuho raised their price target on the stock from $30.00 to $35.00, AnalystRatingsNetwork reports. Mizuho currently has a neutral rating on the stock. Hewlett-Packard Company traded as high as $34.99 and last traded at $34.87, with a volume of 11,729,884 shares trading hands. The stock had previously closed at $33.39.
A number of other analysts have also recently weighed in on HPQ. Analysts at Goldman Sachs upgraded shares of Hewlett-Packard Company from a “sell” rating to a “neutral” rating in a research note on Thursday. They now have a $32.00 price target on the stock, up previously from $25.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Hewlett-Packard Company in a research note on Friday, May 30th. They now have a $40.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.22.
The stock’s 50-day moving average is $32.93 and its 200-day moving average is $30.39. The company has a market cap of $65.829 billion and a price-to-earnings ratio of 11.75. Hewlett-Packard Company also was the recipient of a significant growth in short interest in the month of May. As of May 30th, there was short interest totalling 30,007,034 shares, a growth of 10.9% from the May 15th total of 27,053,365 shares. Based on an average daily volume of 16,315,825 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.6% of the shares of the company are sold short.
Hewlett-Packard Company (NYSE:HPQ) last released its earnings data on Thursday, May 22nd. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.88. The company had revenue of $27.30 million for the quarter, compared to the consensus estimate of $27.41 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Hewlett-Packard Company will post $3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Investors 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 1.92%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Hewlett-Packard Company’s previous quarterly dividend of $0.15.
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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