FY2017 EPS Estimates for HP Inc. (HPQ) Boosted by Analyst
HP Inc. (NYSE:HPQ) – Equities researchers at Jefferies Group lifted their FY2017 earnings estimates for HP in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Kisner now forecasts that the firm will earn $1.60 per share for the year, up from their previous forecast of $1.57. Jefferies Group currently has a “Hold” rating on the stock.
A number of other analysts have also issued reports on the company. Credit Suisse Group AG restated a “buy” rating and issued a $19.00 target price on shares of HP in a report on Sunday, October 9th. RBC Capital Markets restated a “sector perform” rating and issued a $14.00 target price (up previously from $12.00) on shares of HP in a report on Monday, August 22nd. Morgan Stanley reaffirmed a “buy” rating on shares of HP in a research note on Tuesday, September 13th. Vetr downgraded shares of HP from a “strong-buy” rating to a “buy” rating and set a $17.76 price target on the stock. in a research note on Tuesday, November 15th. Finally, Citigroup Inc. upped their price target on shares of HP from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 10th. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.64.
HP (NYSE:HPQ) traded down 0.07% on Monday, hitting $15.14. The company had a trading volume of 729,408 shares. The firm’s 50 day moving average price is $14.93 and its 200 day moving average price is $14.09. HP has a 12-month low of $8.91 and a 12-month high of $16.19. The stock has a market cap of $25.92 billion, a P/E ratio of 10.57 and a beta of 1.53.
HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share.
Several hedge funds have recently modified their holdings of HPQ. Principal Financial Group Inc. raised its stake in shares of HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock worth $80,022,000 after buying an additional 2,805,123 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock worth $181,420,000 after buying an additional 2,614,757 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock worth $442,517,000 after buying an additional 2,403,888 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of HP during the second quarter worth $26,430,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of HP during the third quarter worth $27,441,000. 76.75% of the stock is owned by institutional investors and hedge funds.
In related news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now owns 213,582 shares of the company’s stock, valued at $3,203,730. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio (DPR) is currently 35.21%.
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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