HP Inc (HPQ) Sees Large Growth in Short Interest
HP Inc (NYSE:HPQ) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 31,681,052 shares, an increase of 24.2% from the April 28th total of 25,507,056 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 8,308,259 shares, the days-to-cover ratio is currently 3.8 days.
Shares of HP (NYSE:HPQ) opened at 18.47 on Monday. The company has a market cap of $31.18 billion, a P/E ratio of 13.06 and a beta of 1.52. HP has a 52-week low of $11.48 and a 52-week high of $19.58. The stock has a 50 day moving average of $18.65 and a 200 day moving average of $16.65.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the firm earned $0.41 EPS. HP’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that HP will post $1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Monday, June 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
A number of equities analysts have weighed in on HPQ shares. Citigroup Inc upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.54 to $20.00 in a report on Wednesday, April 12th. Royal Bank of Canada lifted their price target on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 price target on shares of HP in a report on Friday. Finally, Morgan Stanley lifted their price target on shares of HP from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, April 18th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.99.
In other HP news, CFO Catherine A. Lesjak sold 719,775 shares of HP stock in a transaction on Monday, April 3rd. The shares were 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 owns 599,775 shares in the company, valued at approximately $10,556,040. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now owns 120,000 shares in the company, valued at approximately $2,176,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 980,159 shares of company stock worth $17,503,036. 0.51% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Dodge & Cox bought a new stake in shares of HP during the fourth quarter worth $2,073,164,000. Norges Bank bought a new stake in shares of HP during the fourth quarter worth $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of HP during the fourth quarter worth $145,193,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of HP during the fourth quarter worth $143,429,000. Finally, Renaissance Technologies LLC bought a new stake in shares of HP during the first quarter worth $62,824,000. 78.94% of the stock is owned by hedge funds and other institutional investors.
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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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