Royal Bank Of Canada Raises HP Inc. (HPQ) Price Target to $16.00
HP Inc. (NYSE:HPQ) had its target price upped by equities research analysts at Royal Bank Of Canada from $14.00 to $16.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “sector perform” rating on the computer maker’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 2.70% from the stock’s previous close.
HPQ has been the subject of several other reports. Jefferies Group reissued a “buy” rating and issued a $16.75 target price on shares of HP in a report on Tuesday, September 13th. RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 target price (up from $12.00) on shares of HP in a report on Monday, August 22nd. Vetr lowered shares of HP from a “strong-buy” rating to a “buy” rating and set a $16.12 target price for the company. in a report on Monday, September 19th. Morgan Stanley reissued an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of HP in a report on Friday, August 26th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $15.00 target price 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 assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.93.
Shares of HP (NYSE:HPQ) opened at 15.58 on Monday. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of 8.30 and a beta of 1.55. HP has a 12 month low of $8.91 and a 12 month high of $15.74. The firm’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 released 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. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts expect that HP will post $1.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were given a $0.124 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a yield of 3.18%. HP’s dividend payout ratio is presently 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marie Myers sold 10,269 shares of HP stock in a transaction 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 owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its stake in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the period. First American Bank acquired a new stake in HP during the third quarter valued at $2,095,000. Wealthfront Inc. increased its stake in HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares during the period. Strategic Wealth Advisors Group LLC acquired a new stake in HP during the second quarter valued at $429,000. Finally, Stifel Financial Corp acquired a new stake in HP during the second quarter valued at $1,610,000. 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.
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