HP (NYSE:HPQ – Get Rating) announced its quarterly earnings results on Tuesday. The computer maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01, RTT News reports. The firm had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $14.68 billion. HP had a negative return on equity of 196.62% and a net margin of 5.09%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share.
HP Trading Up 1.8 %
Shares of HPQ stock opened at $29.91 on Thursday. The stock has a 50 day simple moving average of $27.02 and a 200 day simple moving average of $31.33. HP has a 1 year low of $24.08 and a 1 year high of $41.47. The stock has a market cap of $30.09 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 3.02 and a beta of 0.99.
HP Increases Dividend
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 paid a $0.2625 dividend. This is a boost from HP’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a dividend yield of 3.51%. HP’s payout ratio is 33.22%.
Insiders Place Their Bets
Institutional Investors Weigh In On HP
Several institutional investors and hedge funds have recently added to or reduced their stakes in HPQ. Cantor Fitzgerald Investment Advisor L.P lifted its stake in HP by 89.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock worth $31,698,000 after purchasing an additional 413,491 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of HP by 46.6% during the first quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock worth $11,103,000 after buying an additional 97,178 shares in the last quarter. Prudential PLC acquired a new position in shares of HP during the first quarter worth $892,000. Cetera Investment Advisers increased its holdings in shares of HP by 6.8% during the first quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock worth $641,000 after buying an additional 1,121 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of HP during the first quarter worth $309,000. 81.17% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Bank of America lowered their price target on HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a research report on Friday, November 18th. Morgan Stanley decreased their target price on HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a research report on Monday, October 17th. Credit Suisse Group downgraded HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Friday, November 18th. StockNews.com initiated coverage on HP in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on HP from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, August 31st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.71.
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.
- Get a free copy of the StockNews.com research report on HP (HPQ)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Three CBD Stocks to Dominate a Budding Industry
- Is the 60/40 Portfolio Mix Still in Vogue?
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.