Analysts Expect HP Inc. (HPQ) Will Post Earnings of $0.44 Per Share
Equities analysts expect that HP Inc. (NYSE:HPQ) will report $0.44 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for HP’s earnings. HP reported earnings of $0.36 per share during the same quarter last year, which indicates a positive year over year growth rate of 22.2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 28th.
On average, analysts expect that HP will report full year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.64 to $1.65. For the next year, analysts expect that the company will report earnings of $1.76 per share, with EPS estimates ranging from $1.75 to $1.79. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow HP.
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 Thomson Reuters’ 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 analysts’ expectations of $12.31 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.
Several brokerages recently issued reports on HPQ. Citigroup Inc. lifted their price objective on HP from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Bank of America Corp lifted their price objective on HP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley lifted their price objective on HP from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday. Loop Capital lifted their price objective on HP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.27.
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Shares of HP (HPQ) opened at 21.79 on Tuesday. The company’s 50 day moving average price is $19.79 and its 200 day moving average price is $18.81. The stock has a market capitalization of $36.39 billion, a PE ratio of 15.84 and a beta of 1.94. HP has a 12 month low of $13.77 and a 12 month high of $22.00.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.
In other HP news, CEO Dion J. Weisler sold 95,521 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $19.97, for a total transaction of $1,907,554.37. Following the transaction, the chief executive officer now owns 435,018 shares in the company, valued at $8,687,309.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Enrique Lores sold 40,965 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $21.50, for a total value of $880,747.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,168,171 shares of company stock worth $42,637,791. 0.62% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of HPQ. Boston Partners lifted its stake in shares of 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 purchasing an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC acquired a new position in shares of HP during the first quarter worth about $62,824,000. Parametric Portfolio Associates LLC lifted its stake in shares of 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 purchasing an additional 3,358,299 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of 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 purchasing an additional 3,017,182 shares in the last quarter. Institutional investors own 79.17% 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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