HP Inc. (HPQ) Receives Average Rating of “Hold” from Brokerages
HP Inc. (NYSE:HPQ) has been given an average rating of “Hold” by the twenty-four analysts that are covering the stock, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.99.
A number of research firms have recently weighed in on HPQ. BMO Capital Markets boosted their target price on HP to $17.00 in a research note on Thursday, February 23rd. Argus reaffirmed a “buy” rating and set a $22.00 price target (up previously from $19.00) on shares of HP in a research report on Monday, February 27th. FBN Securities raised HP from a “sector perform” rating to a “buy” rating and upped their price target for the company from $15.00 to $19.00 in a research report on Thursday, February 23rd. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.54 to $20.00 in a report on Wednesday, April 12th. Finally, Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, April 25th.
HP (HPQ) traded up 1.96% during midday trading on Monday, reaching $17.69. 10,306,329 shares of the company’s stock traded hands. HP has a 52 week low of $11.48 and a 52 week high of $19.58. The company’s 50-day moving average price is $18.68 and its 200 day moving average price is $16.92. The stock has a market capitalization of $29.78 billion, a price-to-earnings ratio of 12.51 and a beta of 1.76.
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. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that HP will post $1.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.00%. 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, CFO Catherine A. Lesjak sold 719,775 shares of the company’s 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 sale, the chief financial officer now directly owns 599,775 shares of the company’s stock, valued at $10,556,040. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total transaction of $181,400.00. Following the completion of the sale, the insider now directly owns 61,745 shares in the company, valued at $1,120,054.30. The disclosure for this sale can be found here. Insiders have sold 1,015,159 shares of company stock worth $18,142,136 over the last three months. Corporate insiders own 0.62% of the company’s stock.
Large investors have recently bought and sold shares of the stock. ARK Investment Management LLC purchased a new position in shares of HP during the fourth quarter worth $782,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of HP by 1,384.4% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 144,429 shares of the computer maker’s stock worth $144,000 after buying an additional 134,699 shares during the period. Employees Retirement System of Texas increased its position in shares of HP by 16.4% in the fourth quarter. Employees Retirement System of Texas now owns 333,000 shares of the computer maker’s stock worth $4,942,000 after buying an additional 47,000 shares during the period. First Allied Advisory Services Inc. increased its position in shares of HP by 19.8% in the fourth quarter. First Allied Advisory Services Inc. now owns 39,325 shares of the computer maker’s stock worth $584,000 after buying an additional 6,494 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of HP during the fourth quarter worth $236,000. 80.37% of the stock is currently owned by 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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