Analysts Set HP Inc (HPQ) Price Target at $18.13
HP Inc (NYSE:HPQ) has received an average recommendation of “Buy” from the twenty-five ratings firms that are covering the firm. Twelve analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.89.
Several research analysts recently weighed in on the stock. Credit Suisse Group AG restated a “buy” rating and issued a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. BMO Capital Markets boosted their price objective on shares of HP from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday. Citigroup Inc set a $20.00 price objective on shares of HP and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $20.00 price objective (up previously from $18.00) on shares of HP in a research report on Friday, May 19th. Finally, Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th.
In related news, CFO Catherine A. Lesjak sold 120,000 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $2,176,800.00. Following the sale, the chief financial officer now directly owns 120,000 shares of the company’s stock, valued at approximately $2,176,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Catherine A. Lesjak sold 719,775 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the sale, the chief financial officer now directly owns 599,775 shares in the company, valued at $10,556,040. The disclosure for this sale can be found here. Insiders sold a total of 980,159 shares of company stock worth $17,503,036 over the last ninety days. 0.51% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of HPQ. Achmea Investment Management B.V. acquired a new stake in shares of HP during the first quarter valued at approximately $6,419,000. Bank of Nova Scotia boosted its stake in shares of HP by 929.0% in the first quarter. Bank of Nova Scotia now owns 397,495 shares of the computer maker’s stock valued at $7,107,000 after buying an additional 358,867 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of HP during the first quarter valued at approximately $112,000. Janus Capital Management LLC boosted its stake in shares of HP by 25.1% in the first quarter. Janus Capital Management LLC now owns 3,782,519 shares of the computer maker’s stock valued at $67,632,000 after buying an additional 758,576 shares during the period. Finally, First Financial Equity Corporation acquired a new stake in shares of HP during the first quarter valued at approximately $200,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP (NYSE:HPQ) traded up 0.54% during trading on Tuesday, reaching $18.47. The company’s stock had a trading volume of 14,525,992 shares. The company’s 50-day moving average is $18.65 and its 200-day moving average is $16.65. The company has a market capitalization of $31.18 billion, a P/E ratio of 13.06 and a beta of 1.52. HP has a 12 month low of $11.48 and a 12 month high of $19.58.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company posted $0.41 EPS. HP’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that HP will post $1.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be given a $0.1327 dividend. The ex-dividend date is Monday, June 12th. This represents a $0.53 annualized dividend and a yield of 2.87%. HP’s dividend payout ratio is currently 37.32%.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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