HP’s (HPQ) “Hold” Rating Reiterated at BMO Capital Markets
HP Inc (NYSE:HPQ)‘s stock had its “hold” rating restated by analysts at BMO Capital Markets in a report issued on Thursday. They presently have a $20.00 price target on the computer maker’s stock. BMO Capital Markets’ target price indicates a potential upside of 5.21% from the stock’s current price.
Other analysts also recently issued research reports about the stock. FBN Securities upgraded shares of HP from a “sector perform” rating to a “buy” rating and raised their price target for the stock from $15.00 to $19.00 in a report on Thursday, February 23rd. Argus restated a “buy” rating and set a $22.00 price target (up previously from $19.00) on shares of HP in a report on Monday, February 27th. Citigroup Inc upgraded shares of HP from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.54 to $20.00 in a report on Wednesday, April 12th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, April 25th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $19.00 price target on shares of HP in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.54.
Shares of HP (NYSE:HPQ) traded down 2.37% during midday trading on Thursday, reaching $18.56. The company’s stock had a trading volume of 9,856,393 shares. The company has a 50 day moving average price of $18.63 and a 200-day moving average price of $16.62. The stock has a market capitalization of $31.43 billion, a PE ratio of 12.66 and a beta of 1.52. HP has a 52 week low of $11.40 and a 52 week high of $19.58. HP also was the target of unusually large options trading activity on Monday. Investors purchased 14,623 put options on the company. This represents an increase of approximately 936% compared to the typical volume of 1,412 put options.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. On average, equities research analysts expect that HP will post $1.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.79%. HP’s dividend payout ratio (DPR) is currently 37.32%.
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In other news, CFO Catherine A. Lesjak sold 120,000 shares of HP stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total transaction of $2,176,800.00. Following the completion of the sale, the chief financial officer now directly owns 120,000 shares of the company’s stock, valued at approximately $2,176,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Catherine A. Lesjak sold 719,775 shares of HP stock in a transaction 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 sale, the chief financial officer now directly 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 ninety days, insiders have sold 1,093,741 shares of company stock valued at $19,482,770. Corporate insiders own 0.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HPQ. Achmea Investment Management B.V. purchased a new stake in HP during the first quarter valued at about $6,419,000. Bank of Nova Scotia boosted its stake in HP by 929.0% in the first quarter. Bank of Nova Scotia now owns 397,495 shares of the computer maker’s stock valued at $7,107,000 after buying an additional 358,867 shares during the period. American Beacon Advisors Inc. purchased a new stake in HP during the first quarter valued at about $112,000. Janus Capital Management LLC boosted its stake in HP by 25.1% in the first quarter. Janus Capital Management LLC now owns 3,782,519 shares of the computer maker’s stock valued at $67,632,000 after buying an additional 758,576 shares during the period. Finally, First Financial Equity Corporation purchased a new stake in HP during the first quarter valued at about $200,000. 78.94% of the stock is owned by institutional investors and hedge funds.
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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