HP Inc. (HPQ) Upgraded at Royal Bank Of Canada
Royal Bank Of Canada upgraded shares of HP Inc. (NYSE:HPQ) from a sector perform rating to an outperform rating in a research report report published on Thursday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has $22.00 target price on the computer maker’s stock, up from their previous target price of $21.00.
A number of other equities research analysts also recently issued reports on HPQ. UBS AG restated a buy rating and set a $20.00 price target (up from $18.00) on shares of HP in a research note on Monday, April 3rd. Mizuho upgraded HP from a neutral rating to a buy rating and boosted their price target for the company from $20.00 to $21.00 in a research note on Monday, July 10th. Citigroup Inc. set a $20.00 price target on HP and gave the company a buy rating in a research note on Thursday, May 25th. Wells Fargo & Company restated an outperform rating and set a $21.00 price target on shares of HP in a research note on Thursday, March 23rd. Finally, FBN Securities restated an outperform rating and set a $23.00 price target (up from $19.00) on shares of HP in a research note on Sunday, May 28th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $19.89.
Shares of HP (HPQ) traded up 1.11% during trading on Thursday, reaching $19.15. 9,235,717 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $17.98 and a 200 day moving average price of $17.35. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 13.54 and a beta of 1.89. HP has a 12 month low of $13.55 and a 12 month high of $19.58.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 68.86% and a net margin of 4.94%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts forecast that HP will post $1.64 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio (DPR) is 37.32%.
In other news, CFO Catherine A. Lesjak sold 52,387 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $19.00, for a total transaction of $995,353.00. Following the sale, the chief financial officer now directly owns 52,387 shares of the company’s stock, valued at approximately $995,353. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ron Coughlin sold 10,000 shares of the company’s 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 sale, the insider now directly owns 51,745 shares in the company, valued at $980,567.75. The disclosure for this sale can be found here. Insiders have sold a total of 917,383 shares of company stock worth $16,603,892 over the last ninety days. Insiders own 0.62% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in 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 last quarter. Parallel Advisors LLC raised 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 valued at $218,000 after buying an additional 41 shares during the last quarter. ELM Advisors LLC raised 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 valued at $256,000 after buying an additional 65 shares during the last quarter. Savant Capital LLC raised 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 valued at $434,000 after buying an additional 80 shares during the last quarter. Finally, Destination Wealth Management raised 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 valued at $279,000 after buying an additional 83 shares during the last quarter. Institutional investors own 79.49% of the company’s stock.
HP Company Profile
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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