HP Inc. (HPQ) Now Covered by Analysts at Loop Capital
A number of other equities research analysts have also weighed in on the stock. Vetr lowered shares of HP from a buy rating to a hold rating and set a $19.72 target price on the stock. in a research note on Monday, June 5th. ValuEngine raised shares of HP from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on shares of HP in a research report on Thursday, July 13th. They set a neutral rating and a $20.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of HP from $20.00 to $21.00 and gave the company a sector perform rating in a research report on Thursday, May 25th. Finally, Zacks Investment Research raised shares of HP from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 12th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $19.89.
Shares of HP (NYSE:HPQ) opened at 19.02 on Tuesday. The company’s 50-day moving average price is $18.71 and its 200 day moving average price is $18.02. HP has a 52 week low of $13.55 and a 52 week high of $19.58. The firm has a market cap of $32.02 billion, a P/E ratio of 13.45 and a beta of 1.90.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities analysts anticipate that HP will post $1.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.79%. HP’s dividend payout ratio (DPR) is 37.32%.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $18.26, for a total transaction of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the sale, the director now owns 544,881 shares of the company’s stock, valued at $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of HP during the first quarter valued at about $833,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of HP during the first quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after buying an additional 754,019 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of HP during the first quarter valued at about $112,000. Institutional investors own 79.90% of the company’s stock.
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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