Brokers Set Expectations for HP Inc.’s Q1 2017 Earnings (HPQ)
HP Inc. (NYSE:HPQ) – Analysts at Jefferies Group decreased their Q1 2017 earnings per share (EPS) estimates for HP in a report issued on Wednesday. Jefferies Group analyst J. Kisner now expects that the firm will post earnings of $0.37 per share for the quarter, down from their previous estimate of $0.38. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for HP’s Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.40 EPS and Q1 2018 earnings at $0.39 EPS.
HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS.
Several other brokerages also recently issued reports on HPQ. Citigroup Inc. upped their price target on shares of HP from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Credit Suisse Group AG reiterated a “buy” rating and set a $19.00 price target on shares of HP in a report on Friday, August 12th. Mizuho reissued a “neutral” rating and issued a $12.00 price objective on shares of HP in a research note on Thursday, August 25th. BMO Capital Markets boosted their price objective on shares of HP from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Thursday, August 25th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 price objective on shares of HP in a research note on Tuesday, September 13th. Fifteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.73.
Shares of HP (NYSE:HPQ) traded down 6.77% during mid-day trading on Thursday, reaching $14.87. The company had a trading volume of 23,440,339 shares. HP has a one year low of $8.91 and a one year high of $16.19. The stock has a 50 day moving average of $14.98 and a 200-day moving average of $14.00. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 7.92 and a beta of 1.53.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock valued at $80,022,000 after buying an additional 2,805,123 shares during the period. Wells Fargo & Company MN increased its position in HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock valued at $181,420,000 after buying an additional 2,614,757 shares during the period. Bank of New York Mellon Corp increased its position in HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock valued at $442,517,000 after buying an additional 2,403,888 shares during the period. Emerald Acquisition Ltd. acquired a new position in HP during the second quarter valued at approximately $26,430,000. Finally, The Manufacturers Life Insurance Company acquired a new position in HP during the third quarter valued at approximately $27,441,000. 79.49% of the stock is owned by institutional investors.
In related news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was 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 directly owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a yield of 3.57%. HP’s dividend payout ratio (DPR) is 35.21%.
HP Company Profile
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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