HP Inc. (HPQ) Updates FY18 Earnings Guidance
HP Inc. (NYSE:HPQ) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $1.74 -1.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.76.
A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of HP from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a hold rating and set a $14.00 price objective on shares of HP in a research report on Thursday, August 24th. Zacks Investment Research raised shares of HP from a hold rating to a buy rating and set a $23.00 target price on the stock in a research report on Tuesday. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $19.50 target price on shares of HP in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $21.00 target price on shares of HP in a research report on Friday, July 14th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. HP currently has a consensus rating of Buy and an average price target of $20.92.
Shares of HP Inc. (NYSE HPQ) traded down 0.05% during midday trading on Thursday, reaching $20.40. 9,084,871 shares of the company’s stock were exchanged. The stock has a market cap of $34.07 billion, a P/E ratio of 14.83 and a beta of 1.94. HP Inc. has a one year low of $13.77 and a one year high of $20.73. The company’s 50-day moving average is $19.71 and its 200-day moving average is $18.76.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same period in the previous year, the company posted $0.48 earnings per share. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, September 12th. HP’s payout ratio is presently 38.41%.
In other news, insider Enrique Lores sold 40,965 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $20.50, for a total value of $839,782.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dion J. Weisler sold 731,502 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total value of $14,608,094.94. Following the completion of the sale, the insider now owns 435,018 shares of the company’s stock, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders sold 2,127,206 shares of company stock valued at $41,757,043 over the last 90 days. Company insiders own 0.62% of the company’s stock.
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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