HP Inc. (HPQ) Receives “Sector Perform” Rating from Royal Bank of Canada
HP Inc. (NYSE:HPQ)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, May 19th, Marketbeat reports. They presently have a $20.00 price target on the computer maker’s stock, up from their previous price target of $18.00. Royal Bank of Canada’s target price would suggest a potential upside of 15.27% from the company’s previous close.
Other analysts also recently issued reports about the company. Barclays PLC upped their price objective on HP from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 23rd. J P Morgan Chase & Co restated a “neutral” rating and set a $16.00 price objective (up from $15.50) on shares of HP in a report on Thursday, February 23rd. BMO Capital Markets upped their price objective on HP to $17.00 in a report on Thursday, February 23rd. Wells Fargo & Company upgraded HP from a “market perform” rating to an “outperform” rating in a report on Monday, March 6th. Finally, Mizuho increased their price target on HP from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. HP currently has a consensus rating of “Hold” and a consensus target price of $19.08.
Shares of HP (NYSE:HPQ) traded up 0.46% on Friday, reaching $17.35. The company’s stock had a trading volume of 14,634,825 shares. HP has a 12-month low of $11.48 and a 12-month high of $19.58. The firm has a 50 day moving average price of $18.68 and a 200-day moving average price of $16.92. The stock has a market cap of $29.21 billion, a PE ratio of 12.27 and a beta of 1.76.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. HP’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Equities research analysts expect that HP will post $1.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, June 12th. HP’s payout ratio is 37.32%.
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In related news, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total transaction of $181,400.00. Following the completion of the sale, the insider now directly owns 61,745 shares in the company, valued at $1,120,054.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Catherine A. Lesjak sold 719,775 shares of the firm’s stock in a transaction that occurred on 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 owns 599,775 shares of the company’s stock, valued at $10,556,040. The disclosure for this sale can be found here. Insiders have sold 1,015,159 shares of company stock valued at $18,142,136 over the last 90 days. 0.62% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of HPQ. Meridian Wealth Management LLC purchased a new position in HP during the fourth quarter worth approximately $236,000. American Beacon Advisors Inc. purchased a new position in HP during the first quarter worth approximately $112,000. YorkBridge Wealth Partners LLC raised its position in HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares in the last quarter. CWM LLC raised its position in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in HP during the third quarter worth approximately $106,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
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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