HPQ has been the topic of several other research reports. Vetr downgraded HP from a strong-buy rating to a buy rating and set a $16.12 price objective on the stock. in a report on Monday, September 19th. Royal Bank Of Canada boosted their price objective on HP from $14.00 to $16.00 and gave the company a sector perform rating in a report on Monday, October 10th. Credit Suisse Group AG reiterated a buy rating and issued a $19.00 price objective on shares of HP in a report on Sunday, October 9th. Morgan Stanley reiterated an overweight rating and issued a $16.00 price objective (up previously from $15.00) on shares of HP in a report on Friday, August 26th. Finally, RBC Capital Markets restated a sector perform rating and set a $14.00 price target on shares of HP in a report on Thursday, September 1st. Eighteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $15.26.
Shares of HP (NYSE:HPQ) opened at 14.21 on Friday. The firm has a 50-day moving average price of $14.88 and a 200 day moving average price of $13.52. The firm has a market cap of $24.31 billion, a P/E ratio of 7.57 and a beta of 1.55. HP has a one year low of $8.91 and a one year high of $15.88.
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, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, analysts forecast that HP will post $1.61 earnings per share for the current fiscal year.
In other news, insider Marie Myers sold 10,269 shares of HP stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the completion of the transaction, the insider now 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 this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the period. Rhumbline Advisers increased its position in shares of HP by 4.5% in the second quarter. Rhumbline Advisers now owns 2,664,605 shares of the computer maker’s stock worth $33,441,000 after buying an additional 113,836 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of HP during the second quarter worth approximately $26,430,000. Canada Pension Plan Investment Board increased its position in shares of HP by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,365 shares of the computer maker’s stock worth $18,315,000 after buying an additional 261,510 shares during the period. Finally, National Pension Service increased its position in shares of HP by 8.5% in the third quarter. National Pension Service now owns 1,413,172 shares of the computer maker’s stock worth $21,947,000 after buying an additional 110,925 shares during the period. 78.53% of the stock is owned by institutional investors.
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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