HP Inc. (HPQ) Earns “Sector Perform” Rating from RBC Capital Markets
HP Inc. (NYSE:HPQ)‘s stock had its “sector perform” rating reissued by equities researchers at RBC Capital Markets in a report issued on Monday. They presently have a $16.00 target price on the computer maker’s stock, up from their prior target price of $14.00. RBC Capital Markets’ target price would indicate a potential upside of 2.70% from the company’s previous close.
HPQ has been the subject of several other reports. Mizuho reissued a “neutral” rating and issued a $12.00 price objective on shares of HP in a report on Thursday, June 23rd. Vetr downgraded HP from a “strong-buy” rating to a “buy” rating and set a $16.12 price objective for the company. in a report on Monday, September 19th. Credit Suisse Group AG reissued a “buy” rating and issued a $19.00 price objective on shares of HP in a report on Sunday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price objective on shares of HP in a report on Tuesday, June 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $16.00 price objective (up from $15.00) on shares of HP in a report on Friday, August 26th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.93.
Shares of HP (NYSE:HPQ) traded up 0.83% during midday trading on Monday, reaching $15.71. 4,430,635 shares of the company traded hands. HP has a 1-year low of $8.91 and a 1-year high of $15.88. The stock has a market capitalization of $26.88 billion, a P/E ratio of 8.37 and a beta of 1.55. The stock’s 50-day moving average is $14.79 and its 200-day moving average is $13.38.
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HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Equities analysts predict that HP will post $1.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were issued a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 annualized dividend and a yield of 3.18%. HP’s dividend payout ratio is presently 26.74%.
In other HP news, insider Marie Myers sold 10,269 shares of HP stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the sale, the insider now directly owns 22,390 shares in the company, valued at approximately $325,774.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the sale, the insider now owns 213,582 shares of the company’s stock, valued at $3,096,939. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
Several large investors have recently modified their holdings of HPQ. Advisory Services Network LLC increased its stake in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock worth $172,000 after buying an additional 2,755 shares during the period. Wealthsource Partners LLC purchased a new stake in shares of HP during the first quarter worth $175,000. Wealthfront Inc. increased its stake in shares of HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock worth $214,000 after buying an additional 3,638 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock worth $284,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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