HP (NYSE:HPQ) Releases Earnings Results, Beats Expectations By $0.01 EPS

HP (NYSE:HPQGet Rating) released its quarterly earnings results on Tuesday. The computer maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01, RTT News reports. HP had a net margin of 5.09% and a negative return on equity of 196.62%. The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. During the same period last year, the business earned $0.94 EPS. The company’s revenue was down 11.2% compared to the same quarter last year.

HP Trading Up 1.8 %

HPQ opened at $29.91 on Thursday. HP has a 12-month low of $24.08 and a 12-month high of $41.47. The firm has a market capitalization of $30.09 billion, a PE ratio of 9.94, a P/E/G ratio of 3.02 and a beta of 0.99. The firm has a 50 day moving average of $27.02 and a two-hundred day moving average of $31.33.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.2625 per share. This is a positive change from HP’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a yield of 3.51%. HP’s dividend payout ratio (DPR) is currently 33.22%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of HP in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their price target on shares of HP from $30.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, August 31st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of HP from $36.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, August 31st. Barclays decreased their price objective on shares of HP from $27.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Cowen decreased their price objective on shares of HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, August 31st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $29.71.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $25.23, for a total transaction of $857,820.00. Following the completion of the transaction, the chief executive officer now directly owns 517,204 shares of the company’s stock, valued at approximately $13,049,056.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HP

Several institutional investors have recently made changes to their positions in HPQ. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of HP by 89.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after purchasing an additional 413,491 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in HP by 46.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock valued at $11,103,000 after acquiring an additional 97,178 shares during the period. Prudential PLC acquired a new stake in HP in the 1st quarter valued at $892,000. Cetera Investment Advisers grew its stake in HP by 6.8% in the 1st quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock valued at $641,000 after acquiring an additional 1,121 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in HP in the 1st quarter valued at $309,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

About HP

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HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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Earnings History for HP (NYSE:HPQ)

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