$13.34 Billion in Sales Expected for HP Inc. (HPQ) This Quarter
Equities analysts predict that HP Inc. (NYSE:HPQ) will report sales of $13.34 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for HP’s earnings. The lowest sales estimate is $13.18 billion and the highest is $13.43 billion. HP reported sales of $12.51 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The company is expected to announce its next quarterly earnings report on Tuesday, November 28th.
On average, analysts expect that HP will report full-year sales of $13.34 billion for the current year, with estimates ranging from $51.31 billion to $51.56 billion. For the next financial year, analysts forecast that the firm will post sales of $51.90 billion per share, with estimates ranging from $51.20 billion to $52.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for HP.
HP (NYSE:HPQ) last announced 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 net margin of 4.66% and a negative return on equity of 64.93%. The business 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 business earned $0.48 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis.
A number of research firms have recently issued reports on HPQ. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $20.00 price objective on shares of HP in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price objective (up from $19.00) on shares of HP in a report on Tuesday, September 5th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a report on Thursday, July 20th. Maxim Group reaffirmed a “hold” rating and set a $22.00 price objective (up from $21.00) on shares of HP in a report on Thursday, August 24th. Finally, BidaskClub raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. HP presently has a consensus rating of “Buy” and an average price target of $21.44.
Shares of HP (NYSE:HPQ) traded up 1.10% on Thursday, reaching $21.96. 7,963,523 shares of the company’s stock traded hands. The firm has a market cap of $36.68 billion, a P/E ratio of 15.96 and a beta of 1.94. The company’s 50-day moving average price is $19.99 and its 200 day moving average price is $18.89. HP has a one year low of $13.77 and a one year high of $22.08.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders 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 2.42%. The ex-dividend date of this dividend was Tuesday, September 12th. HP’s payout ratio is 38.41%.
In other news, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the sale, the insider now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the sale, the director now directly owns 692,849 shares in the company, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,872,235 shares of company stock worth $37,015,007 in the last ninety days. Insiders own 0.62% of the company’s stock.
A number of large investors have recently bought and sold shares of HPQ. Boston Partners boosted its stake 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 acquiring an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC bought a new stake in HP during the first quarter worth about $62,824,000. Parametric Portfolio Associates LLC boosted its stake 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 acquiring an additional 3,358,299 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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 acquiring an additional 3,017,182 shares in the last quarter. 79.17% of the stock is currently owned by institutional investors and hedge funds.
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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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