HP Inc (HPQ) Earns “Hold” Rating from Stifel Nicolaus
HP Inc (NYSE:HPQ)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a note issued to investors on Friday. They presently have a $14.00 target price on the computer maker’s stock. Stifel Nicolaus’ price target suggests a potential downside of 24.20% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Jefferies Group LLC raised their price target on HP from $17.00 to $18.00 and gave the company a “hold” rating in a report on Thursday. Bank of America Corp raised their price target on HP from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price target on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday. Goldman Sachs Group Inc raised their price target on HP from $16.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Mizuho raised their price target on HP from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. HP presently has a consensus rating of “Buy” and a consensus target price of $18.81.
HP (NYSE:HPQ) traded up 0.54% on Friday, hitting $18.47. The stock had a trading volume of 14,525,992 shares. HP has a 1-year low of $11.48 and a 1-year high of $19.58. The firm has a market cap of $31.18 billion, a P/E ratio of 13.06 and a beta of 1.52. The firm’s 50-day moving average price is $18.65 and its 200-day moving average price is $16.65. HP also was the target of unusually large options trading on Wednesday. Traders bought 711 call options on the stock. This represents an increase of approximately 199% compared to the average daily volume of 238 call options.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Thomson Reuters’ 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 negative return on equity of 63.67% and a net margin of 5.17%. HP’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities research analysts predict that HP will post $1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be issued 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 yield of 2.87%. HP’s dividend payout ratio is presently 37.32%.
In other HP news, CFO Catherine A. Lesjak sold 719,775 shares of HP stock in a transaction dated 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 transaction, the chief financial officer now directly owns 599,775 shares in the company, valued at $10,556,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Catherine A. Lesjak sold 67,997 shares of HP stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $19.00, for a total value of $1,291,943.00. Following the transaction, the chief financial officer now owns 67,997 shares in the company, valued at $1,291,943. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 980,159 shares of company stock worth $17,503,036. Corporate insiders own 0.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in HP during the third quarter valued at $106,000. FineMark National Bank & Trust raised its position in HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in HP during the first quarter valued at $112,000. CWM LLC raised its position in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position in HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
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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