Hewlett-Packard Company Stock Rating Reaffirmed by Morgan Stanley (HPQ)
Hewlett-Packard Company (NYSE:HPQ)‘s stock had its “buy” rating reissued by stock analysts at Morgan Stanley in a report issued on Thursday. They currently have a $39.00 price objective on the stock, down from their previous price objective of $40.00. Morgan Stanley’s price target suggests a potential upside of 11.05% from the stock’s previous close.
The analysts wrote, “EPS of $0.89 was right in line with us/Street $0.90/$0.89, even with a slight revenue beat (expected) on strength in PCs. Investors should be encouraged by the strong FCF generation ($2.6bn vs. our $2.1bn) and the higher $9bn expectation for F2014. While F4Q14 EPS guidance was in line at $1.03-$1.07 vs. our/Street prior $1.04/1.05, our EPS estimates increase modestly in F15/F16 on margin improvement in Services, which is key to the turnaround. We maintain Buy as margin improvement and strong FCF generation story remains intact.”
A number of other analysts have also recently weighed in on HPQ. Analysts at S&P Equity Research initiated coverage on shares of Hewlett-Packard Company in a research note on Monday. They set a “hold” rating and a $2.62 price target on the stock. Separately, analysts at Monness Crespi & Hardt upgraded shares of Hewlett-Packard Company from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $40.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hewlett-Packard Company in a research note on Friday, July 18th. They now have a $36.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.03.
Shares of Hewlett-Packard Company (NYSE:HPQ) traded up 3.19% on Thursday, hitting $36.24. 8,034,654 shares of the company’s stock traded hands. Hewlett-Packard Company has a 1-year low of $20.25 and a 1-year high of $36.21. The stock has a 50-day moving average of $34.86 and a 200-day moving average of $32.68. The company has a market cap of $67.818 billion and a P/E ratio of 12.36. Hewlett-Packard Company also saw some unusual options trading on Monday. Investors bought 9,511 put options on the company. This represents an increase of approximately 122% compared to the average daily volume of 4,289 put options.
Hewlett-Packard Company (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.89 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.89. The company had revenue of $27.59 billion for the quarter, compared to the consensus estimate of $27.00 billion. During the same quarter last year, the company posted $0.86 earnings per share. Hewlett-Packard Company’s revenue was up 1.0% compared to the same quarter last year. Analysts expect that Hewlett-Packard Company will post $3.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, September 8th.
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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