HP Inc. (HPQ) Expected to Post Quarterly Sales of $12.11 Billion
Equities research analysts expect that HP Inc. (NYSE:HPQ) will announce $12.11 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for HP’s earnings, with the lowest sales estimate coming in at $11.94 billion and the highest estimate coming in at $12.27 billion. HP reported sales of $11.89 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The company is expected to issue its next earnings results on Wednesday, August 23rd.
On average, analysts expect that HP will report full year sales of $12.11 billion for the current fiscal year, with estimates ranging from $49.42 billion to $50.13 billion. For the next year, analysts forecast that the company will report sales of $49.28 billion per share, with estimates ranging from $48.60 billion to $49.88 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow HP.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year.
HPQ has been the topic of a number of analyst reports. Barclays PLC upped their price target on shares of HP from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $16.00 price target (up previously from $15.50) on shares of HP in a research note on Thursday, February 23rd. BMO Capital Markets upped their price target on shares of HP to $17.00 in a research note on Thursday, February 23rd. FBN Securities restated an “outperform” rating and set a $23.00 target price (up previously from $19.00) on shares of HP in a research note on Sunday, May 28th. Finally, Wells Fargo & Company upgraded shares of HP from a “market perform” rating to an “outperform” rating in a research note on Monday, March 6th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. HP has a consensus rating of “Hold” and a consensus price target of $19.08.
HP (NYSE:HPQ) opened at 17.35 on Friday. The firm has a 50 day moving average of $18.68 and a 200-day moving average of $16.92. HP has a 1-year low of $11.48 and a 1-year high of $19.58. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 12.27 and a beta of 1.76.
The company also recently announced 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 is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.06%. HP’s dividend payout ratio is currently 37.32%.
In related news, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Catherine A. Lesjak sold 67,997 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 67,997 shares of the company’s stock, valued at $1,291,943. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,159 shares of company stock valued at $18,142,136 over the last quarter. Corporate insiders own 0.62% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Meridian Wealth Management LLC bought a new stake in shares of HP during the fourth quarter worth about $236,000. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter worth about $112,000. YorkBridge Wealth Partners LLC increased its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares in the last quarter. CWM LLC increased its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares in the last quarter. Institutional investors own 80.39% 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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