HP Inc. (HPQ) Price Target Increased to $16.00 by Analysts at Royal Bank Of Canada
HP Inc. (NYSE:HPQ) had its price objective boosted by stock analysts at Royal Bank Of Canada from $14.00 to $16.00 in a research report issued on Monday. The brokerage currently has a “sector perform” rating on the computer maker’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 2.70% from the company’s previous close.
Several other equities analysts have also weighed in on HPQ. Deutsche Bank AG restated a “buy” rating on shares of HP in a research report on Sunday, July 10th. RBC Capital Markets restated a “hold” rating and set a $16.00 price target on shares of HP in a research report on Monday. Sanford C. Bernstein restated an “outperform” rating and set a $15.00 price target on shares of HP in a research report on Thursday, June 23rd. Citigroup Inc. restated a “neutral” rating and set a $13.00 price target on shares of HP in a research report on Wednesday, June 22nd. Finally, Credit Suisse Group AG restated a “buy” rating and set a $19.00 price target on shares of HP in a research report on Sunday. Eighteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.93.
HP (NYSE:HPQ) opened at 15.58 on Monday. HP has a 12 month low of $8.91 and a 12 month high of $15.74. The firm has a market capitalization of $26.66 billion, a PE ratio of 8.30 and a beta of 1.55. The stock has a 50 day moving average of $14.79 and a 200 day moving average of $13.38.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, equities analysts predict that HP will post $1.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s dividend payout ratio (DPR) is presently 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the sale, the insider now owns 213,582 shares in the company, valued at approximately $2,990,148. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the sale, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock worth $172,000 after buying an additional 2,755 shares during the period. Wealthsource Partners LLC acquired a new stake in shares of HP during the first quarter worth approximately $175,000. Wealthfront Inc. boosted its stake in shares of HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock worth $214,000 after buying an additional 3,638 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock worth $284,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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