HP Inc. (HPQ) Price Target Increased to $16.00 by Analysts at Royal Bank Of Canada
HP Inc. (NYSE:HPQ) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $14.00 to $16.00 in a report issued on Monday. The firm currently has a “sector perform” rating on the computer maker’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 2.70% from the stock’s current price.
HPQ has been the topic of several other research reports. Jefferies Group restated a “buy” rating and set a $16.75 price target on shares of HP in a report on Tuesday, September 13th. RBC Capital Markets restated a “sector perform” rating and set a $14.00 price target (up previously from $12.00) on shares of HP in a report on Monday, August 22nd. Vetr lowered HP from a “strong-buy” rating to a “buy” rating and set a $16.12 price target on the stock. in a report on Monday, September 19th. Morgan Stanley restated an “overweight” rating and set a $16.00 price target (up previously from $15.00) on shares of HP in a report on Friday, August 26th. Finally, Deutsche Bank AG restated a “buy” rating and set a $15.00 price target on shares of HP in a report on Thursday, August 25th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.93.
Shares of HP (NYSE:HPQ) opened at 15.58 on Monday. HP has a one year low of $8.91 and a one year high of $15.74. The stock’s 50 day moving average is $14.79 and its 200-day moving average is $13.38. The company has a market cap of $26.66 billion, a PE ratio of 8.30 and a beta of 1.55.
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HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts expect that HP will post $1.61 earnings per share for the current 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 $0.124 dividend. This represents a $0.50 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s payout ratio is currently 26.74%.
In other HP news, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now directly owns 22,390 shares of the company’s stock, valued at $325,774.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares in the company, valued at $2,990,148. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of HPQ. Geode Capital Management LLC raised its stake in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock valued at $185,720,000 after buying an additional 799,445 shares during the last quarter. Rhumbline Advisers raised its stake in shares of HP by 4.5% in the second quarter. Rhumbline Advisers now owns 2,664,605 shares of the computer maker’s stock valued at $33,441,000 after buying an additional 113,836 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of HP during the second quarter valued at approximately $26,430,000. Canada Pension Plan Investment Board raised its stake in shares of HP by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,365 shares of the computer maker’s stock valued at $18,315,000 after buying an additional 261,510 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock valued at $5,557,000 after buying an additional 22,392 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.
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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