HP Inc. to Post Q2 2018 Earnings of $0.41 Per Share, Jefferies Group Forecasts (HPQ)
HP Inc. (NYSE:HPQ) – Research analysts at Jefferies Group decreased their Q2 2018 EPS estimates for shares of HP in a research note issued on Wednesday. Jefferies Group analyst J. Kisner now anticipates that the computer maker will post earnings per share of $0.41 for the quarter, down from their prior estimate of $0.42. Jefferies Group currently has a “Hold” rating and a $19.00 target price on the stock. Jefferies Group also issued estimates for HP’s Q1 2019 earnings at $0.42 EPS.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $12.31 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “HP Inc. to Post Q2 2018 Earnings of $0.41 Per Share, Jefferies Group Forecasts (HPQ)” was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.watchlistnews.com/hp-inc-to-post-q2-2018-earnings-of-0-41-per-share-jefferies-group-forecasts-hpq/1531921.html.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price target on shares of HP in a report on Friday, May 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $20.00 price target on shares of HP in a report on Thursday, August 24th. Bank of America Corporation raised their price target on HP from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 25th. FBN Securities reaffirmed an “outperform” rating and issued a $25.00 price target (up previously from $23.00) on shares of HP in a report on Thursday, August 24th. Finally, Royal Bank Of Canada raised their price target on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.53.
Shares of HP (NYSE:HPQ) opened at 19.21 on Monday. HP has a 12-month low of $13.77 and a 12-month high of $19.78. The stock has a 50 day moving average of $18.86 and a 200 day moving average of $18.09. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 13.96 and a beta of 1.90.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is 38.41%.
In other HP news, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the completion of the transaction, the director now owns 544,881 shares in the company, valued at $9,644,393.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the transaction, the director now 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 quarter. 0.62% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Boston Partners raised its stake in HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in HP during the first quarter worth approximately $79,108,000. Renaissance Technologies LLC acquired a new stake in HP during the first quarter worth approximately $62,824,000. Parametric Portfolio Associates LLC raised its stake in HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after buying an additional 3,358,299 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in HP by 26.3% in the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares during the last quarter. 78.50% of the stock is owned by institutional investors and hedge funds.
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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