HP’s (HPQ) Sector Perform Rating Reaffirmed at RBC Capital Markets
HP Inc. (NYSE:HPQ)‘s stock had its “sector perform” rating restated by research analysts at RBC Capital Markets in a note issued to investors on Monday. They currently have a $16.00 price target on the computer maker’s stock, up from their prior price target of $14.00. RBC Capital Markets’ price target would indicate a potential upside of 2.70% from the stock’s current price.
A number of other equities analysts have also recently issued reports on HPQ. Deutsche Bank AG reissued a “buy” rating on shares of HP in a report on Sunday, July 10th. Barclays PLC raised their price target on HP from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, August 25th. Jefferies Group reaffirmed a “buy” rating and set a $14.50 price target on shares of HP in a report on Thursday, June 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $15.00 price target on shares of HP in a report on Thursday, June 23rd. Finally, Vetr raised HP from a “buy” rating to a “strong-buy” rating and set a $16.12 price target for the company in a report on Monday, September 12th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.93.
Shares of HP (NYSE:HPQ) traded up 0.83% during midday trading on Monday, hitting $15.71. The stock had a trading volume of 4,423,206 shares. The stock has a 50 day moving average price of $14.79 and a 200-day moving average price of $13.38. The stock has a market capitalization of $26.88 billion, a price-to-earnings ratio of 8.37 and a beta of 1.55. HP has a 52 week low of $8.91 and a 52 week high of $15.88.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $11.89 billion during the quarter, compared to analysts’ expectations of $11.44 billion. During the same period in the prior year, the firm posted $0.88 EPS. HP’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that HP will post $1.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio is presently 26.74%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares in the company, valued at $3,096,939. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new stake in shares of HP during the second quarter valued at about $26,430,000. Thompson Investment Management Inc. boosted its stake in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares during the period. Morgan Dempsey Capital Management LLC boosted its stake in shares of HP by 28.6% in the second quarter. Morgan Dempsey Capital Management LLC now owns 172,652 shares of the computer maker’s stock valued at $2,167,000 after buying an additional 38,395 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of 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. Finally, NewSquare Capital LLC boosted its stake in shares of HP by 18.7% in the second quarter. NewSquare Capital LLC now owns 61,845 shares of the computer maker’s stock valued at $776,000 after buying an additional 9,743 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.
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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