HP (HPQ) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS
HP (NYSE:HPQ) released its earnings results on Thursday. The computer maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02, RTT News reports. The firm had revenue of $14.04 billion for the quarter, compared to the consensus estimate of $13.97 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share.
Shares of HPQ stock traded down $0.01 during trading hours on Thursday, reaching $19.19. The company had a trading volume of 14,646,800 shares, compared to its average volume of 11,411,852. HP has a twelve month low of $18.06 and a twelve month high of $27.08. The firm has a market cap of $29.81 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 3.22 and a beta of 1.38.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be paid a $0.1602 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.34%. HP’s dividend payout ratio (DPR) is currently 31.68%.
HPQ has been the subject of several research analyst reports. ValuEngine lowered HP from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. BMO Capital Markets dropped their price target on HP from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, February 28th. Bank of America lowered HP from a “buy” rating to an “underperform” rating and set a $19.00 price target for the company. in a research note on Thursday, February 28th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of HP in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.71.
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HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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