Brokerages Anticipate HP Inc. (HPQ) to Announce $0.42 EPS
Equities research analysts forecast that HP Inc. (NYSE:HPQ) will announce earnings per share of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for HP’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.41. HP posted earnings of $0.48 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 12.5%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, August 23rd.
On average, analysts expect that HP will report full year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.66. For the next year, analysts expect that the business will post earnings of $1.72 per share, with EPS estimates ranging from $1.67 to $1.78. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow HP.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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 quarter in the previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis.
HPQ has been the subject of several analyst reports. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Credit Suisse Group restated a “buy” rating and set a $19.00 target price on shares of HP in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, April 25th. Bank of America Corporation raised their target price on HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, UBS AG restated a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.89.
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Shares of HP (HPQ) traded up 0.32% during mid-day trading on Monday, hitting $18.57. The stock had a trading volume of 6,919,149 shares. The firm has a market cap of $31.26 billion, a price-to-earnings ratio of 13.13 and a beta of 1.90. HP has a one year low of $13.55 and a one year high of $19.58. The company has a 50-day moving average of $18.71 and a 200 day moving average of $18.02.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.86%. HP’s dividend payout ratio (DPR) is presently 37.32%.
In other news, Director Margaret C. Whitman sold 221,960 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total value of $4,297,145.60. Following the sale, the director now directly owns 692,849 shares in the company, valued at $13,413,556.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now owns 692,849 shares in the company, valued at $13,385,842.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,748,815 shares of company stock valued at $32,623,560. Insiders own 0.62% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Boston Partners raised its stake in shares of HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of HP during the first quarter worth approximately $79,108,000. Renaissance Technologies LLC purchased a new stake in shares of HP during the first quarter worth approximately $62,824,000. Parametric Portfolio Associates LLC raised its stake in shares of HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after buying an additional 3,358,299 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of HP by 26.3% in the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares during the period. Institutional investors own 79.90% 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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