HP (NYSE:HPQ) Announces Quarterly Earnings Results

HP (NYSE:HPQ) announced its quarterly earnings data on Tuesday. The computer maker reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06, MarketWatch Earnings reports. HP had a negative return on equity of 137.22% and a net margin of 6.56%. The business had revenue of $16.68 billion during the quarter, compared to analyst estimates of $15.42 billion. During the same period in the prior year, the company earned $0.62 earnings per share. HP’s revenue was up 9.3% compared to the same quarter last year.

NYSE HPQ traded up $0.26 during trading hours on Tuesday, reaching $32.19. 11,933,918 shares of the stock traded hands, compared to its average volume of 9,508,384. The stock has a 50 day simple moving average of $29.44 and a two-hundred day simple moving average of $29.61. HP has a 1 year low of $21.26 and a 1 year high of $36.00. The company has a market cap of $37.10 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 8th will be given a dividend of $0.25 per share. This is an increase from HP’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, December 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. HP’s dividend payout ratio (DPR) is presently 24.22%.

Several equities research analysts have issued reports on the company. Loop Capital increased their target price on HP from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 1st. Morgan Stanley downgraded HP from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research report on Friday, August 27th. JPMorgan Chase & Co. downgraded HP to a “hold” rating and set a $30.00 target price on the stock. in a research report on Wednesday, October 6th. Zacks Investment Research downgraded HP from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Friday, November 5th. Finally, Evercore ISI restated a “buy” rating and set a $35.00 target price on shares of HP in a research report on Sunday, October 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.11.

In other news, insider Harvey Anderson sold 7,811 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $31.26, for a total transaction of $244,171.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christoph Schell sold 41,362 shares of the firm’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $32.01, for a total value of $1,323,997.62. The disclosure for this sale can be found here. Insiders have sold 237,973 shares of company stock worth $7,430,226 in the last 90 days. Company insiders own 0.19% of the company’s stock.

A hedge fund recently raised its stake in HP stock. Ironwood Wealth Management LLC. increased its position in HP Inc. (NYSE:HPQ) by 117.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,674 shares of the computer maker’s stock after purchasing an additional 1,447 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 80.06% of the company’s stock.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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Earnings History for HP (NYSE:HPQ)

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