HP Inc (HPQ) Releases Earnings Results, Beats Estimates By $0.01 EPS
HP Inc (NYSE:HPQ) announced its earnings results on Wednesday. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. HP updated its Q3 guidance to $0.40-0.43 EPS and its FY17 guidance to $1.59-1.66 EPS.
Shares of HP (NYSE:HPQ) traded up 0.26% during trading on Wednesday, reaching $19.01. 13,476,226 shares of the company’s stock traded hands. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 12.97 and a beta of 1.52. HP has a 52-week low of $11.40 and a 52-week high of $19.49. The company’s 50-day moving average is $18.63 and its 200 day moving average is $16.62. HP also was the recipient of unusually large options trading activity on Monday. Investors acquired 14,623 put options on the company. This represents an increase of 936% compared to the typical volume of 1,412 put options.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, June 12th. HP’s dividend payout ratio (DPR) is currently 37.32%.
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In other news, insider Ron Coughlin sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the sale, the insider now directly owns 61,745 shares in the company, valued at approximately $1,120,054.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Catherine A. Lesjak sold 719,775 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the completion of the sale, the chief financial officer now owns 599,775 shares of the company’s stock, valued at $10,556,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,093,741 shares of company stock valued at $19,482,770. Company insiders own 0.51% of the company’s stock.
A number of brokerages have issued reports on HPQ. Royal Bank of Canada restated a “sector perform” rating and set a $20.00 target price (up previously from $18.00) on shares of HP in a research report on Friday, May 19th. Credit Suisse Group AG restated a “buy” rating and set a $19.00 target price on shares of HP in a research report on Tuesday. Mizuho increased their target price on shares of HP from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Barclays PLC increased their target price on shares of HP from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $16.00 target price (up previously from $15.50) on shares of HP in a research report on Thursday, February 23rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. HP currently has a consensus rating of “Buy” and an average target price of $18.38.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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