HP Inc. (HPQ) Expected to Post Quarterly Sales of $13.34 Billion
Analysts expect HP Inc. (NYSE:HPQ) to announce $13.34 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for HP’s earnings, with the highest sales estimate coming in at $13.43 billion and the lowest estimate coming in at $13.18 billion. HP posted sales of $12.51 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The business is expected to report its next quarterly earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that HP will report full year sales of $13.34 billion for the current fiscal year, with estimates ranging from $51.31 billion to $51.56 billion. For the next year, analysts forecast that the company will post sales of $51.55 billion per share, with estimates ranging from $51.20 billion to $52.27 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for HP.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year.
A number of equities analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $20.00 target price (up previously from $19.00) on shares of HP in a research note on Tuesday, September 5th. Deutsche Bank AG reiterated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $20.00 target price on shares of HP in a research note on Friday, August 25th. FBN Securities reiterated an “outperform” rating and set a $25.00 target price (up previously from $23.00) on shares of HP in a research note on Thursday, August 24th. Finally, Mizuho reiterated a “buy” rating and set a $21.00 target price on shares of HP in a research note on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. HP has an average rating of “Buy” and a consensus target price of $20.57.
In other HP news, Director Margaret C. Whitman sold 147,968 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.00, for a total transaction of $2,663,424.00. Following the transaction, the director now directly owns 618,857 shares in the company, valued at $11,139,426. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 544,881 shares in the company, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders have sold 1,725,567 shares of company stock worth $32,210,686 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of HPQ. Boston Partners grew its position in HP by 304.9% during 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 acquired a new position in HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC acquired a new position in HP during the first quarter worth about $62,824,000. Parametric Portfolio Associates LLC grew its position in HP by 87.1% during 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 grew its position in HP by 26.3% during 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 79.15% of the company’s stock.
Shares of HP (NYSE:HPQ) opened at 19.12 on Monday. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 13.90 and a beta of 1.93. The stock’s 50 day moving average price is $19.13 and its 200 day moving average price is $18.31. HP has a one year low of $13.77 and a one year high of $19.78.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.78%. HP’s dividend payout ratio is currently 38.41%.
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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