Q4 2016 EPS Estimates for HP Inc. Decreased by Jefferies Group (HPQ)
HP Inc. (NYSE:HPQ) – Analysts at Jefferies Group cut their Q4 2016 earnings per share estimates for HP in a research note issued on Monday. Jefferies Group analyst J. Kisner now expects that the firm will post earnings per share of $0.35 for the quarter, down from their prior estimate of $0.36. Jefferies Group has a “Buy” rating and a $16.75 price target on the stock.
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, topping 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 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 company posted $0.88 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year.
HPQ has been the subject of several other reports. Mizuho reaffirmed a “neutral” rating and issued a $12.00 target price on shares of HP in a report on Thursday, June 23rd. Vetr cut 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. Royal Bank Of Canada lifted their target price on shares of HP from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday, October 10th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $19.00 target price on shares of HP in a report on Sunday, October 9th. Finally, Morgan Stanley reaffirmed 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. Eighteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $15.26.
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/2016/10/18/q4-2016-eps-estimates-for-hp-inc-decreased-by-jefferies-group-hpq.html
HP (NYSE:HPQ) traded up 1.675% during mid-day trading on Tuesday, reaching $14.265. 6,152,327 shares of the company’s stock traded hands. HP has a 12-month low of $8.91 and a 12-month high of $15.88. The company has a market cap of $24.41 billion, a P/E ratio of 7.596 and a beta of 1.55. The stock has a 50 day moving average of $14.89 and a 200 day moving average of $13.51.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, September 12th. HP’s payout ratio is presently 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the transaction, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the transaction, the insider now owns 22,390 shares in the company, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in shares of HP during the second quarter valued at about $26,430,000. Geode Capital Management LLC boosted its position 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. PineBridge Investments L.P. boosted its position in shares of HP by 333.7% in the second quarter. PineBridge Investments L.P. now owns 414,298 shares of the computer maker’s stock valued at $5,199,000 after buying an additional 318,772 shares during the last quarter. Canada Pension Plan Investment Board boosted its position 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, Victory Capital Management Inc. boosted its position in shares of HP by 90.4% in the second quarter. Victory Capital Management Inc. now owns 293,655 shares of the computer maker’s stock valued at $3,686,000 after buying an additional 139,443 shares during the last quarter. Hedge funds and other institutional investors own 78.53% 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.