Jefferies Group Equities Analysts Raise Earnings Estimates for HP Inc. (HPQ)
HP Inc. (NYSE:HPQ) – Equities researchers at Jefferies Group raised their Q3 2018 EPS estimates for shares of HP in a note issued to investors on Tuesday. Jefferies Group analyst J. Kisner now forecasts that the computer maker will earn $0.41 per share for the quarter, up from their prior forecast of $0.39. Jefferies Group currently has a “Hold” rating and a $18.75 target price on the stock. Jefferies Group also issued estimates for HP’s FY2018 earnings at $1.67 EPS.
A number of other equities research analysts have also issued reports on HPQ. UBS AG reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $18.00) on shares of HP in a research report on Monday, April 3rd. Mizuho raised HP from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $21.00 in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price target on shares of HP in a research report on Friday, July 14th. Citigroup Inc. set a $20.00 price target on HP and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $21.00 price target on shares of HP in a research report on Thursday, March 23rd. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.89.
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Shares of HP (HPQ) traded up 1.524% during trading on Wednesday, reaching $18.985. 5,080,903 shares of the company’s stock were exchanged. The company has a market capitalization of $31.96 billion, a P/E ratio of 13.426 and a beta of 1.89. The stock has a 50-day moving average price of $17.97 and a 200 day moving average price of $17.34. HP has a 12-month low of $13.55 and a 12-month high of $19.58.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. CWM LLC increased its position in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. Parallel Advisors LLC increased its stake in HP by 0.4% in the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock worth $218,000 after buying an additional 41 shares during the period. ELM Advisors LLC increased its stake in HP by 0.5% in the first quarter. ELM Advisors LLC now owns 14,318 shares of the computer maker’s stock worth $256,000 after buying an additional 65 shares during the period. Savant Capital LLC increased its stake in HP by 0.3% in the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock worth $434,000 after buying an additional 80 shares during the period. Finally, Destination Wealth Management increased its stake in HP by 0.5% in the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock worth $279,000 after buying an additional 83 shares during the period. Institutional investors own 79.49% of the company’s stock.
In other HP news, insider Ron Coughlin sold 10,000 shares of HP stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the transaction, the insider now directly owns 51,745 shares in the company, valued at approximately $980,567.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the completion of the transaction, the director now owns 544,881 shares in the company, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders sold a total of 917,383 shares of company stock worth $16,603,892 over the last quarter. Company insiders own 0.62% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were paid a $0.1327 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.84%. HP’s dividend payout ratio (DPR) is currently 37.32%.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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