HP Inc. (HPQ) Receives Consensus Rating of “Buy” from Analysts
HP Inc. (NYSE:HPQ) has earned an average rating of “Buy” from the twenty-five brokerages that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $19.89.
Several research firms have issued reports on HPQ. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.54 to $20.00 in a research note on Wednesday, April 12th. Morgan Stanley lifted their target price on HP from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. 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 research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of HP in a research note on Friday, May 19th.
Shares of HP (NYSE HPQ) remained flat at $19.32 on Tuesday. 11,560,389 shares of the company’s stock were exchanged. The stock has a market capitalization of $32.52 billion, a PE ratio of 13.66 and a beta of 1.90. HP has a 52 week low of $13.55 and a 52 week high of $19.58. The company’s 50 day moving average price is $18.32 and its 200 day moving average price is $17.66.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Equities research analysts predict that HP will post $1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is presently 37.32%.
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In other HP news, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the transaction, the chief operating officer now directly owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 over the last three months. 0.62% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Beacon Advisors Inc. bought a new position in shares of HP during the first quarter worth about $112,000. CWM LLC increased its position 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 during the last quarter. YorkBridge Wealth Partners LLC increased its position 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 during the last quarter. First Command Bank increased its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares during the last quarter. Finally, TrimTabs Asset Management LLC increased its position 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 during the last quarter. 78.97% of the stock is 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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