Research Analysts Set Expectations for HP Inc.’s Q3 2018 Earnings (HPQ)
HP Inc. (NYSE:HPQ) – Stock analysts at Jefferies Group raised their Q3 2018 earnings estimates for shares of HP in a note issued to investors on Tuesday. Jefferies Group analyst J. Kisner now anticipates that the computer maker will post earnings per share of $0.41 for the quarter, up from their previous forecast of $0.39. Jefferies Group has a “Hold” rating and a $18.75 price target on the stock. Jefferies Group also issued estimates for HP’s FY2018 earnings at $1.67 EPS.
Several other brokerages also recently issued reports on HPQ. UBS AG restated a “buy” rating and issued a $20.00 price objective (up previously from $18.00) on shares of HP in a research note on Monday, April 3rd. Bank of America Corporation raised their price objective on shares of HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Citigroup Inc. set a $20.00 price objective on shares of HP and gave the stock a “buy” rating in a research note on Thursday, May 25th. Mizuho raised their price objective on shares of HP from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 price objective (up previously from $18.00) on shares of HP in a research note on Friday, May 19th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. HP currently has a consensus rating of “Buy” and an average target price of $19.84.
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HP (NYSE:HPQ) traded up 0.788% during midday trading on Wednesday, reaching $18.535. 5,302,356 shares of the company were exchanged. HP has a 52-week low of $13.55 and a 52-week high of $19.58. The stock has a market capitalization of $31.20 billion, a price-to-earnings ratio of 13.108 and a beta of 1.89. The firm’s 50-day moving average price is $17.98 and its 200 day moving average price is $17.33.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. HP’s revenue was up 7.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were paid a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Monday, June 12th. HP’s payout ratio is 37.32%.
In other news, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the sale, the director now owns 544,881 shares in the company, valued at approximately $9,644,393.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret C. Whitman sold 147,976 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $17.92, for a total value of $2,651,729.92. Following the sale, the director now owns 618,865 shares in the company, valued at approximately $11,090,060.80. The disclosure for this sale can be found here. Insiders sold a total of 917,383 shares of company stock worth $16,603,892 in the last 90 days. Company insiders own 0.62% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in HP by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 4,262,896 shares of the computer maker’s stock worth $63,261,000 after buying an additional 49,674 shares during the period. Kentucky Retirement Systems acquired a new stake in HP during the fourth quarter worth $1,842,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in HP during the fourth quarter worth $822,000. Searle & CO. acquired a new stake in HP during the fourth quarter worth $178,000. Finally, Foundry Partners LLC acquired a new stake in HP during the first quarter worth $11,085,000. Institutional investors and hedge funds own 79.49% 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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