Jefferies Group Weighs in on HP Inc.’s FY2017 Earnings (HPQ)
HP Inc. (NYSE:HPQ) – Investment analysts at Jefferies Group boosted their FY2017 EPS estimates for shares of HP in a research note issued on Wednesday. Jefferies Group analyst J. Kisner now forecasts that the computer maker will earn $1.66 per share for the year, up from their prior forecast of $1.62. Jefferies Group has a “Hold” rating and a $19.00 price objective on the stock. Jefferies Group also issued estimates for HP’s Q4 2017 earnings at $0.45 EPS, Q1 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.68 EPS.
A number of other equities research analysts also recently weighed in on HPQ. UBS AG reaffirmed a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of HP in a research report on Thursday. J P Morgan Chase & Co set a $19.50 price objective on shares of HP and gave the company a “neutral” rating in a research report on Thursday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 price objective on shares of HP in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $20.53.
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Shares of HP (NYSE HPQ) opened at 19.41 on Friday. The firm’s 50-day moving average price is $18.80 and its 200-day moving average price is $18.06. The firm has a market cap of $32.63 billion, a PE ratio of 14.11 and a beta of 1.90. HP has a 12 month low of $13.77 and a 12 month high of $19.78. HP also was the target of some unusual options trading activity on Wednesday. Investors acquired 16,052 call options on the company. This is an increase of approximately 739% compared to the average daily volume of 1,914 call options.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 66.06% and a net margin of 4.66%. The company had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.
The firm also recently announced 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. This represents a $0.53 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.
In related news, Director Margaret C. Whitman sold 73,992 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the completion of the sale, the director now directly owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret C. Whitman sold 221,960 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the sale, the director now directly owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,713,815 shares of company stock valued at $31,984,460. Company insiders own 0.62% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in HP by 0.4% in the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after buying an additional 41 shares in the last quarter. Montecito Bank & Trust raised its stake in HP by 0.3% in the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock worth $303,000 after buying an additional 60 shares in the last quarter. Savant Capital LLC raised its stake in HP by 0.3% in the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock worth $434,000 after buying an additional 80 shares in the last quarter. Destination Wealth Management raised its stake in HP by 0.5% in the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock worth $279,000 after buying an additional 83 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in HP by 1.1% in the second quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after buying an additional 85 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.
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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