Analysts Offer Predictions for HP Inc’s Q3 2017 Earnings (HPQ)
HP Inc (NYSE:HPQ) – Stock analysts at Jefferies Group boosted their Q3 2017 earnings estimates for shares of HP in a report issued on Wednesday. Jefferies Group analyst J. Kisner now anticipates that the computer maker will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40. Jefferies Group currently has a “Hold” rating and a $18.00 price target on the stock. Jefferies Group also issued estimates for HP’s FY2017 earnings at $1.62 EPS, Q1 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.44 EPS and Q1 2019 earnings at $0.40 EPS.
A number of other equities research analysts also recently commented on the stock. Citigroup Inc set a $20.00 price objective on shares of HP and gave the company a “buy” rating in a research report on Thursday. Goldman Sachs Group Inc reaffirmed a “neutral” rating and set a $18.00 price objective (up previously from $16.50) on shares of HP in a research report on Thursday. BMO Capital Markets reissued a “hold” rating and set a $20.00 target price (up from $17.00) on shares of HP in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $21.00 price target (up previously from $20.00) on shares of HP in a report on Thursday. Finally, Mizuho reiterated a “neutral” rating and issued a $20.00 price objective (up previously from $15.00) on shares of HP in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.04.
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Shares of HP (NYSE:HPQ) opened at 18.37 on Friday. The company has a market capitalization of $31.11 billion, a P/E ratio of 12.53 and a beta of 1.52. HP has a 12-month low of $11.40 and a 12-month high of $19.58. The firm has a 50-day moving average price of $18.65 and a 200 day moving average price of $16.64. HP also was the target of unusually large options trading on Wednesday. Traders acquired 711 call options on the company. This is an increase of approximately 199% compared to the typical daily volume of 238 call options.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be paid a dividend of $0.1327 per share. The ex-dividend date is Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.89%. HP’s dividend payout ratio (DPR) is 37.32%.
In other news, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the transaction, the insider now owns 61,745 shares of the company’s stock, valued at approximately $1,120,054.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Catherine A. Lesjak sold 719,775 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the completion of the transaction, the chief financial officer now directly owns 599,775 shares in the company, valued at approximately $10,556,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,159 shares of company stock worth $17,503,036. 0.51% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Garde Capital Inc. increased its position in shares of HP by 8.0% in the third quarter. Garde Capital Inc. now owns 48,875 shares of the computer maker’s stock worth $1,252,000 after buying an additional 3,600 shares during the last quarter. Clifford Swan Investment Counsel LLC boosted its stake in HP by 0.6% in the third quarter. Clifford Swan Investment Counsel LLC now owns 848,704 shares of the computer maker’s stock valued at $13,180,000 after buying an additional 4,885 shares in the last quarter. WINTON GROUP Ltd boosted its stake in HP by 40.6% in the third quarter. WINTON GROUP Ltd now owns 3,516,597 shares of the computer maker’s stock valued at $54,613,000 after buying an additional 1,016,303 shares in the last quarter. ARGI Investment Services LLC boosted its stake in HP by 7.7% in the third quarter. ARGI Investment Services LLC now owns 85,718 shares of the computer maker’s stock valued at $1,331,000 after buying an additional 6,159 shares in the last quarter. Finally, LSV Asset Management boosted its stake in HP by 0.5% in the third quarter. LSV Asset Management now owns 11,638,898 shares of the computer maker’s stock valued at $180,752,000 after buying an additional 55,100 shares in the last quarter. Institutional investors own 78.94% of the company’s stock.
HP Company Profile
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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