HP (NYSE:HPQ) Issues Quarterly Earnings Results

HP (NYSE:HPQGet Rating) announced its earnings results on Tuesday. The computer maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01, RTT News reports. HP had a net margin of 5.09% and a negative return on equity of 196.62%. The company had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The firm’s quarterly revenue was down 11.2% on a year-over-year basis.

HP Price Performance

Shares of NYSE:HPQ opened at $29.91 on Thursday. The firm has a market capitalization of $30.09 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 3.02 and a beta of 0.99. The firm’s 50-day moving average is $27.02 and its two-hundred day moving average is $31.33. HP has a 1 year low of $24.08 and a 1 year high of $41.47.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.2625 per share. This is a positive change from HP’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a yield of 3.51%. HP’s dividend payout ratio is 33.22%.

Analyst Ratings Changes

Several equities research analysts have issued reports on HPQ shares. Cowen lowered their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 31st. Morgan Stanley lowered their target price on shares of HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Credit Suisse Group lowered HP from an “outperform” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Friday, November 18th. Citigroup reduced their price target on HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, November 18th. Finally, Barclays reduced their price target on HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and a consensus price target of $29.71.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.23, for a total transaction of $857,820.00. Following the sale, the chief executive officer now directly owns 517,204 shares in the company, valued at $13,049,056.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Trading of HP

A number of institutional investors and hedge funds have recently bought and sold shares of HPQ. Caisse DE Depot ET Placement DU Quebec grew its position in shares of HP by 29.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,320,240 shares of the computer maker’s stock worth $47,925,000 after buying an additional 301,500 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of HP by 21.2% during the second quarter. Macquarie Group Ltd. now owns 1,116,080 shares of the computer maker’s stock worth $36,586,000 after buying an additional 194,852 shares in the last quarter. Eaton Vance Management grew its position in shares of HP by 83.2% during the first quarter. Eaton Vance Management now owns 929,787 shares of the computer maker’s stock worth $33,751,000 after buying an additional 422,318 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of HP by 89.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock worth $31,698,000 after buying an additional 413,491 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of HP by 0.3% during the first quarter. Federated Hermes Inc. now owns 512,364 shares of the computer maker’s stock worth $18,598,000 after buying an additional 1,311 shares in the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About HP

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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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