HP’s (HPQ) “Hold” Rating Reiterated at Royal Bank Of Canada
HP Inc. (NYSE:HPQ)‘s stock had its “hold” rating reissued by analysts at Royal Bank Of Canada in a research note issued on Friday. They currently have a $21.00 target price on the computer maker’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 14.01% from the company’s previous close.
A number of other brokerages have also recently commented on HPQ. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.54 to $20.00 in a research report on Wednesday, April 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 price target on shares of HP in a research report on Friday, May 26th. Zacks Investment Research lowered shares of HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC upped their price target on shares of HP from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.81.
HP (HPQ) opened at 18.42 on Friday. The company has a market capitalization of $31.01 billion, a P/E ratio of 13.03 and a beta of 1.89. HP has a 12-month low of $12.04 and a 12-month high of $19.58. The company has a 50-day moving average of $18.37 and a 200 day moving average of $17.07.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. 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 prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that HP will post $1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, June 12th. HP’s payout ratio is 37.32%.
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In other news, Director Margaret C. Whitman sold 73,992 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the sale, the director now directly owns 544,881 shares in the company, valued at approximately $9,644,393.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $18.95, for a total transaction of $189,500.00. Following the completion of the sale, the insider now owns 51,745 shares in the company, valued at $980,567.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 917,383 shares of company stock worth $16,603,892. 0.62% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in HPQ. Dodge & Cox purchased a new stake in HP during the fourth quarter worth $2,073,164,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in HP during the first quarter worth $79,108,000. Renaissance Technologies LLC purchased a new stake in HP during the first quarter worth $62,824,000. DnB Asset Management AS boosted its stake in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares in the last quarter. Finally, Morgan Stanley boosted its stake in HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares in the last quarter. Institutional investors and hedge funds own 79.38% of the company’s stock.
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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