HP Inc. (NYSE:HPQ) Now Covered by Analysts at Susquehanna Bancshares Inc
Investment analysts at Susquehanna Bancshares Inc assumed coverage on shares of HP Inc. (NYSE:HPQ) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $20.00 price target on the computer maker’s stock. Susquehanna Bancshares Inc’s price target suggests a potential upside of 8.58% from the company’s previous close.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday. Mizuho upgraded HP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $21.00 in a report on Monday, July 10th. ValuEngine upgraded HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of HP in a report on Monday, June 26th. Finally, BidaskClub downgraded HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. HP presently has an average rating of “Buy” and a consensus price target of $19.81.
HP (HPQ) traded up 1.88% during mid-day trading on Thursday, hitting $18.42. 8,174,808 shares of the stock were exchanged. HP has a 52-week low of $13.55 and a 52-week high of $19.58. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of 13.03 and a beta of 1.89. The stock has a 50 day moving average of $18.37 and a 200-day moving average of $17.07.
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 the consensus estimate of $0.39 by $0.01. The firm 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 68.86% and a net margin of 4.94%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. Equities analysts predict that HP will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Monday, June 12th. HP’s dividend payout ratio (DPR) is 37.32%.
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In related news, Director Margaret C. Whitman sold 147,976 shares of HP stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $17.92, for a total transaction of $2,651,729.92. Following the completion of the sale, the director now owns 618,865 shares of the company’s stock, valued at $11,090,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 295,952 shares of HP stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total value of $5,333,055.04. Following the sale, the director now directly owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The disclosure for this sale can be found here. Insiders have sold 917,383 shares of company stock valued at $16,603,892 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP bought a new position in shares of HP during the first quarter worth about $833,000. ZWJ Investment Counsel Inc. bought a new position in shares of HP during the first quarter worth about $443,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of HP during the first quarter worth about $112,000. 79.38% of the stock is owned by institutional investors.
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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