HP’s (HPQ) “Outperform” Rating Reaffirmed at FBN Securities
HP Inc (NYSE:HPQ)‘s stock had its “outperform” rating restated by investment analysts at FBN Securities in a research report issued to clients and investors on Sunday. They presently have a $23.00 target price on the computer maker’s stock, up from their prior target price of $19.00. FBN Securities’ target price would indicate a potential upside of 24.53% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Barclays PLC lifted their price objective on HP from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $16.00 price objective (up from $15.50) on shares of HP in a research note on Thursday, February 23rd. BMO Capital Markets lifted their price objective on HP to $17.00 in a research note on Thursday, February 23rd. Wells Fargo & Co raised HP from a “market perform” rating to an “outperform” rating in a research note on Monday, March 6th. Finally, Mizuho lifted their price objective on HP from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Twelve investment 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 a consensus target price of $18.99.
Shares of HP (NYSE:HPQ) traded up 0.54% on Friday, reaching $18.47. The company had a trading volume of 14,525,992 shares. HP has a one year low of $11.48 and a one year high of $19.58. The company has a 50-day moving average price of $18.65 and a 200-day moving average price of $16.65. The firm has a market cap of $31.18 billion, a P/E ratio of 13.06 and a beta of 1.52.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, analysts expect that HP will post $1.64 earnings per share for the current fiscal year.
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 dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Monday, June 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
In other HP news, insider Ron Coughlin sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total transaction of $181,400.00. Following the transaction, the insider now owns 61,745 shares of the company’s stock, valued at $1,120,054.30. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value of $12,668,040.00. Following 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 three months, insiders have sold 980,159 shares of company stock worth $17,503,036. Company insiders own 0.51% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Achmea Investment Management B.V. acquired a new position in shares of HP during the first quarter worth $6,419,000. Bank of Nova Scotia increased its position in shares of HP by 929.0% in the first quarter. Bank of Nova Scotia now owns 397,495 shares of the computer maker’s stock worth $7,107,000 after buying an additional 358,867 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter worth $112,000. Janus Capital Management LLC increased its position in shares of HP by 25.1% in the first quarter. Janus Capital Management LLC now owns 3,782,519 shares of the computer maker’s stock worth $67,632,000 after buying an additional 758,576 shares during the period. Finally, First Financial Equity Corporation acquired a new position in shares of HP during the first quarter worth $200,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
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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