HP Inc. (HPQ) Releases FY17 Earnings Guidance
HP Inc. (NYSE:HPQ) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus estimate of $1.60. HP also updated its Q1 guidance to $0.35-0.38 EPS.
Shares of HP Inc. (NYSE:HPQ) traded down 0.31% on Tuesday, hitting $15.95. 19,577,555 shares of the stock were exchanged. The company has a market cap of $27.29 billion, a P/E ratio of 8.49 and a beta of 1.53. HP Inc. has a one year low of $8.91 and a one year high of $16.19. The firm’s 50-day moving average is $14.98 and its 200-day moving average is $13.96.
HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm earned $12.50 billion during the quarter, compared to analyst estimates of $11.89 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. HP’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, equities analysts forecast that HP Inc. will post $1.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.33%. This is a positive change from HP’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, December 12th. HP’s payout ratio is presently 26.74%.
A number of research firms have issued reports on HPQ. BMO Capital Markets boosted their target price on shares of HP from $12.00 to $13.00 and gave the company a market perform rating in a research note on Thursday, August 25th. FBN Securities reaffirmed a sector perform rating on shares of HP in a research note on Thursday, September 8th. Mizuho reaffirmed a neutral rating and issued a $12.00 price target on shares of HP in a research note on Thursday, August 25th. Deutsche Bank AG upped their price target on shares of HP from $15.00 to $18.00 and gave the stock a buy rating in a research note on Monday, October 10th. Finally, Argus upped their price target on shares of HP from $16.00 to $19.00 and gave the stock a buy rating in a research note on Monday, August 29th. Sixteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $15.48.
In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now owns 213,582 shares in the company, valued at approximately $3,203,730. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marie Myers sold 10,269 shares of the 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 completion of the transaction, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in HPQ. Canada Pension Plan Investment Board boosted 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 period. Atlantic Trust Group LLC boosted its stake in shares of HP by 30.4% in the second quarter. Atlantic Trust Group LLC now owns 35,926 shares of the computer maker’s stock worth $451,000 after buying an additional 8,366 shares during the period. Rhumbline Advisers boosted its stake in shares of HP by 4.5% in the second quarter. Rhumbline Advisers now owns 2,664,605 shares of the computer maker’s stock worth $33,441,000 after buying an additional 113,836 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of HP by 6.1% in the third quarter. Panagora Asset Management Inc. now owns 363,855 shares of the computer maker’s stock worth $5,651,000 after buying an additional 20,766 shares during the period. Finally, Cetera Advisor Networks LLC boosted its stake in shares of HP by 36.9% in the third quarter. Cetera Advisor Networks LLC now owns 20,384 shares of the computer maker’s stock worth $317,000 after buying an additional 5,489 shares during the period. Institutional investors own 79.49% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This report was originally published by [[sitename]] and is the propert of of [[sitename]]. If you are accessing this report on another site, it was illegally copied and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2016/11/22/hp-inc-hpq-releases-fy17-earnings-guidance.html.
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.
Receive News & Stock Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related stocks with our FREE daily email newsletter.