Hewlett-Packard Stock Rating Upgraded by UBS AG (HPQ)
Hewlett-Packard (NYSE: HPQ) was upgraded by research analysts at UBS AG from a “sell” rating to a “neutral” rating in a report released on Friday. The firm currently has a $19.00 target price on the stock, up from their previous target price of $12.00. The analysts noted that the move was a valuation call.
Hewlett-Packard traded up 12.28% on Friday, hitting $19.20. Hewlett-Packard has a 52-week low of $11.35 and a 52-week high of $27.09. The stock’s 50-day moving average is currently $16.57. The company’s market cap is $37.404 billion.
Hewlett-Packard last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.11. The company had revenue of $28.36 billion for the quarter, compared to the consensus estimate of $27.77 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. Hewlett-Packard’s revenue was down 5.6% compared to the same quarter last year. Hewlett-Packard has set its Q2 guidance at $0.80-0.82 EPS and its FY13 guidance at $3.40-3.60 EPS. Analysts expect that Hewlett-Packard will post $3.32 EPS for the current fiscal year.
HPQ has been the subject of a number of other recent research reports. Analysts at Citigroup raised their price target on shares of Hewlett-Packard from $10.50 to $12.00 in a research note to investors on Friday. They now have a “sell” rating on the stock. Separately, analysts at Mizuho raised their price target on shares of Hewlett-Packard from $8.00 to $14.00 in a research note to investors on Friday. They now have an “underperform” rating on the stock. Finally, analysts at Jefferies Group reiterated an “underperform” rating on shares of Hewlett-Packard in a research note to investors on Wednesday. They now have a $10.00 price target on the stock.
Two research analysts have rated the stock with a buy rating, one has issued an overweight rating, twenty-two have given a hold rating, three have assigned an underweight rating, and six have issued a sell rating to the company’s stock. Hewlett-Packard has an average rating of “hold” and an average target price of $14.65.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be paid a dividend of $0.13 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, March 11th.
Hewlett-Packard Company (HP) is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the Government, health and education sectors.