HP Inc. (HPQ) Given “Sector Perform” Rating at RBC Capital Markets
RBC Capital Markets reaffirmed their sector perform rating on shares of HP Inc. (NYSE:HPQ) in a research note published on Monday morning. RBC Capital Markets currently has a $16.00 price target on the computer maker’s stock, up from their previous price target of $14.00.
Other analysts also recently issued research reports about the company. Deutsche Bank AG reiterated a buy rating on shares of HP in a research report on Sunday, July 10th. Sanford C. Bernstein reiterated an outperform rating and issued a $15.00 price objective on shares of HP in a research report on Thursday, June 23rd. Citigroup Inc. reiterated a neutral rating and issued a $13.00 price objective on shares of HP in a research report on Wednesday, June 22nd. Royal Bank Of Canada restated a sector perform rating and set a $12.00 target price on shares of HP in a report on Tuesday, June 21st. Finally, BMO Capital Markets upped their target price on HP from $12.00 to $13.00 and gave the company a market perform rating in a report on Thursday, August 25th. Eighteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $15.15.
Shares of HP (NYSE:HPQ) traded down 0.26% during mid-day trading on Monday, hitting $15.55. 2,333,226 shares of the stock traded hands. The firm’s 50-day moving average is $14.82 and its 200-day moving average is $13.42. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 8.28 and a beta of 1.55. HP has a 52 week low of $8.91 and a 52 week high of $15.88.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The firm earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, analysts forecast that HP will post $1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 annualized dividend and a yield of 3.18%. HP’s payout ratio is presently 26.74%.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the sale, the insider now owns 213,582 shares in the company, valued at approximately $3,096,939. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total value 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. Company insiders own 0.51% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new stake in HP during the second quarter valued at $26,430,000. Geode Capital Management LLC increased its stake in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of HP by 333.7% in the second quarter. PineBridge Investments L.P. now owns 414,298 shares of the computer maker’s stock worth $5,199,000 after buying an additional 318,772 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of HP by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,365 shares of the computer maker’s stock worth $18,315,000 after buying an additional 261,510 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of HP by 90.4% in the second quarter. Victory Capital Management Inc. now owns 293,655 shares of the computer maker’s stock worth $3,686,000 after buying an additional 139,443 shares during the last quarter. Institutional investors and hedge funds 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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