HP Inc. (HPQ) Price Target Raised to $26.00 at Royal Bank Of Canada
HP Inc. (NYSE:HPQ) had its price objective lifted by Royal Bank Of Canada from $22.00 to $26.00 in a research report sent to investors on Wednesday morning. Royal Bank Of Canada currently has an outperform rating on the computer maker’s stock.
A number of other equities analysts have also recently weighed in on HPQ. Morgan Stanley reaffirmed an overweight rating and set a $23.00 price target on shares of HP in a research note on Monday, June 26th. ValuEngine raised shares of HP from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Mizuho raised shares of HP from a neutral rating to a buy rating and upped their price target for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Zacks Investment Research raised shares of HP from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Susquehanna Bancshares Inc initiated coverage on shares of HP in a research note on Thursday, July 13th. They set a neutral rating and a $20.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $21.44.
Shares of HP (NYSE HPQ) traded up 1.10% during mid-day trading on Wednesday, hitting $21.96. 10,247,749 shares of the stock traded hands. HP has a 12-month low of $13.77 and a 12-month high of $22.08. The firm’s 50 day moving average price is $19.99 and its 200 day moving average price is $18.89. The firm has a market cap of $36.68 billion, a price-to-earnings ratio of 15.96 and a beta of 1.94.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts predict that HP will post $1.65 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a $0.1327 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.42%. HP’s payout ratio is 38.41%.
In related news, insider Marie Myers sold 11,752 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total value of $226,226.00. Following the transaction, the insider now owns 11,752 shares in the company, valued at $226,226. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $21.50, for a total transaction of $880,747.50. The disclosure for this sale can be found here. Insiders sold 1,872,235 shares of company stock worth $37,015,007 in the last 90 days. 0.62% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its holdings 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 valued at $108,000 after buying an additional 1,013 shares during the period. American Beacon Advisors Inc. purchased a new position in HP in the first quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC raised its holdings in HP by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after buying an additional 200 shares during the period. First Command Bank raised its holdings in HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the period. Finally, Evercore Wealth Management LLC raised its holdings in HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after buying an additional 836 shares during the period. Hedge funds and other institutional investors own 79.17% 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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