HP Inc. (HPQ) Price Target Raised to $16.00
HP Inc. (NYSE:HPQ) had its target price upped by equities research analysts at Citigroup Inc. from $14.00 to $16.00 in a research report issued to clients and investors on Monday. The firm presently has a “neutral” rating on the computer maker’s stock. Citigroup Inc.’s price target would indicate a potential upside of 2.70% from the company’s previous close.
A number of other research firms also recently issued reports on HPQ. Credit Suisse Group AG restated a “buy” rating and set a $19.00 target price on shares of HP in a research report on Friday, August 12th. Mizuho reiterated a “neutral” rating and issued a $12.00 price objective on shares of HP in a research report on Thursday, August 25th. BMO Capital Markets upped their price objective on shares of HP from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 price objective on shares of HP in a research report on Tuesday, September 13th. Finally, Brean Capital reiterated a “buy” rating on shares of HP in a research report on Wednesday, June 22nd. Eighteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. HP presently has a consensus rating of “Hold” and an average price target of $15.15.
HP (NYSE:HPQ) traded up 0.738% on Monday, reaching $15.695. The company had a trading volume of 4,678,874 shares. The firm has a market capitalization of $26.85 billion, a P/E ratio of 8.357 and a beta of 1.55. HP has a 1-year low of $8.91 and a 1-year high of $15.88. The company’s 50-day moving average price is $14.79 and its 200 day moving average price is $13.38.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/hp-inc-hpq-price-target-raised-to-16-00.html
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that HP will post $1.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a $0.124 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. HP’s payout ratio is 26.74%.
In other news, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were 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 in the company, valued at approximately $325,774.50. The sale 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 firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the sale, the insider now owns 213,582 shares in the company, valued at $3,096,939. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Zebra Capital Management LLC raised its stake in shares of HP by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock worth $1,059,000 after buying an additional 57,940 shares during the last quarter. 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 worth $185,720,000 after buying an additional 799,445 shares during the last quarter. Wealthsource Partners LLC purchased a new stake in shares of HP during the first quarter worth $175,000. 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 worth $5,557,000 after buying an additional 22,392 shares during the last quarter. Finally, Quotient Investors LLC purchased a new stake in shares of HP during the second quarter worth $630,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
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.
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.