HP Inc. (NYSE:HPQ)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group AG in a report released on Sunday. They currently have a $19.00 price objective on the computer maker’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 21.95% from the stock’s current price.
Several other research firms also recently issued reports on HPQ. Citigroup Inc. lifted their price objective on HP from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Mizuho reiterated a “neutral” rating and issued a $12.00 price target on shares of HP in a report on Thursday, August 25th. BMO Capital Markets boosted their price target on HP from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 price target on shares of HP in a report on Tuesday, September 13th. Finally, Brean Capital reiterated a “buy” rating on shares of HP in a report on Wednesday, June 22nd. Eighteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.76.
Shares of HP (NYSE:HPQ) opened at 15.58 on Friday. HP has a 12-month low of $8.91 and a 12-month high of $15.74. The firm has a 50-day moving average price of $14.79 and a 200-day moving average price of $13.38. The firm has a market cap of $26.66 billion, a P/E ratio of 8.30 and a beta of 1.55.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.44 billion. During the same period in the previous year, the business earned $0.88 EPS. HP’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that HP will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were given a $0.124 dividend. This represents a $0.50 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, September 12th. HP’s payout ratio is currently 26.74%.
In other HP news, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the transaction, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares in the company, valued at $2,990,148. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in HPQ. Advisory Services Network LLC increased its stake in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the period. Cullen Frost Bankers Inc. increased its stake in HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares during the period. Wealthsource Partners LLC bought a new stake in HP during the first quarter valued at about $175,000. Wealthfront Inc. increased its stake in HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares during the period. Finally, IFP Advisors Inc increased its stake in HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the period. Institutional investors own 78.54% of the company’s stock.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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