HP Inc. (HPQ) Given Average Rating of “Buy” by Brokerages
Shares of HP Inc. (NYSE:HPQ) have been assigned an average rating of “Buy” from the twenty-six research firms that are covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.68.
A number of brokerages have commented on HPQ. Bank of America Corporation increased their target price on HP from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 25th. UBS AG reiterated a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a report on Thursday, May 25th. Royal Bank Of Canada upgraded HP from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $21.00 to $22.00 in a report on Thursday, July 20th. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 target price on shares of HP in a report on Thursday, August 24th. Finally, Citigroup Inc. set a $20.00 target price on HP and gave the company a “buy” rating in a report on Thursday, May 25th.
HP (HPQ) traded up 1.47% during trading on Friday, reaching $19.36. The company’s stock had a trading volume of 7,550,930 shares. The company has a 50 day moving average price of $19.05 and a 200-day moving average price of $18.22. The company has a market capitalization of $32.54 billion, a PE ratio of 14.07 and a beta of 1.93. HP has a 52 week low of $13.77 and a 52 week high of $19.78.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. HP’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts anticipate that HP will post $1.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is 38.41%.
In other news, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the sale, the director now directly owns 544,881 shares of the company’s stock, valued at $9,655,291.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marie Myers sold 12,119 shares of HP stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total value of $218,990.33. Following the sale, the insider now directly owns 5,621 shares in the company, valued at $101,571.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,713,815 shares of company stock worth $31,984,460. Corporate insiders own 0.62% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. 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 last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC acquired a new stake in shares of HP during the first quarter worth about $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 last quarter. 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 last quarter. 78.50% of the stock is currently 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.
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.