Hewlett-Packard Company Trading 5% Higher Following Analyst Upgrade (HPQ)
Shares of Hewlett-Packard Company (NYSE:HPQ) were up 5% during trading on Thursday after Cantor Fitzgerald raised their price target on the stock from $30.00 to $34.50, Analyst RN reports. The stock traded as high as $36.96 and last traded at $36.87, with a volume of 24,774,177 shares trading hands. The stock had previously closed at $35.12.
HPQ has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of Hewlett-Packard Company in a research note on Thursday. They now have a $41.00 price target on the stock, up previously from $38.00. Separately, analysts at Morgan Stanley reiterated a “buy” rating on shares of Hewlett-Packard Company in a research note on Thursday. They now have a $39.00 price target on the stock, down previously from $40.00. Finally, 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. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.01.
The stock’s 50-day moving average is $34.86 and its 200-day moving average is $32.68. The company has a market cap of $69.427 billion and a P/E ratio of 12.36. Hewlett-Packard Company also saw unusually large options trading on Monday. Traders bought 9,511 put options on the company. This is an increase of approximately 122% compared to the typical daily volume of 4,289 put options.
Hewlett-Packard Company (NYSE:HPQ) last announced its earnings results 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 declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend 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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