HP’s (HPQ) “Outperform” Rating Reiterated at FBN Securities
FBN Securities restated their outperform rating on shares of HP Inc. (NYSE:HPQ) in a research report released on Thursday. The firm currently has a $25.00 price target on the computer maker’s stock, up from their prior price target of $23.00.
Other analysts also recently issued reports about the company. Bank of America Corporation lifted their target price on HP from $20.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, May 25th. UBS AG reiterated a buy rating and set a $22.00 target price (up from $20.00) on shares of HP in a research report on Thursday, May 25th. Credit Suisse Group reiterated a buy rating and set a $19.00 target price on shares of HP in a research report on Tuesday, May 23rd. Citigroup Inc. set a $20.00 target price on HP and gave the stock a buy rating in a research report on Thursday, May 25th. Finally, Mizuho upgraded HP from a neutral rating to a buy rating and raised their price target for the company from $20.00 to $21.00 in a research note on Monday, July 10th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. HP currently has a consensus rating of Buy and an average target price of $20.53.
Shares of HP (NYSE:HPQ) opened at 19.31 on Thursday. The firm has a market capitalization of $32.46 billion, a PE ratio of 14.03 and a beta of 1.90. HP has a 52-week low of $13.77 and a 52-week high of $19.78. The stock’s 50 day moving average is $18.86 and its 200 day moving average is $18.09.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same period last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that HP will post $1.65 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is 38.41%.
In related news, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the sale, the director now owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the sale, the director now directly owns 692,849 shares of the company’s stock, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. Insiders have sold 1,713,815 shares of company stock valued at $31,984,460 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake in HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after buying an additional 1,013 shares during the period. American Beacon Advisors Inc. purchased a new stake in HP during the first quarter worth approximately $112,000. YorkBridge Wealth Partners LLC increased its stake in HP by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after buying an additional 200 shares during the period. First Command Bank increased its stake in HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares during the period. Finally, Evercore Wealth Management LLC increased its stake in HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after buying an additional 836 shares during the period. 78.50% 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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