HP Inc. (NYSE:HPQ – Get Rating) – Equities researchers at Jefferies Financial Group decreased their Q3 2022 EPS estimates for shares of HP in a research report issued to clients and investors on Wednesday, June 1st. Jefferies Financial Group analyst K. Mcnealy now anticipates that the computer maker will post earnings of $1.05 per share for the quarter, down from their previous estimate of $1.08.
HPQ has been the subject of a number of other reports. UBS Group cut HP from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a research note on Friday, April 8th. Barclays boosted their target price on HP from $29.00 to $32.00 and gave the company an “underweight” rating in a research note on Wednesday, June 1st. Morgan Stanley cut HP from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $34.00 to $31.00 in a research note on Thursday, March 31st. Citigroup boosted their target price on HP from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Finally, Zacks Investment Research raised HP from a “sell” rating to a “hold” rating and set a $42.00 target price for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.29.
HP (NYSE:HPQ – Get Rating) last announced its quarterly earnings data on Tuesday, May 31st. The computer maker reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The business had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.19 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of HPQ. BlackRock Inc. grew its stake in shares of HP by 0.6% in the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock valued at $3,673,596,000 after buying an additional 573,468 shares during the period. State Street Corp grew its stake in shares of HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after buying an additional 980,653 shares during the period. Geode Capital Management LLC grew its stake in shares of HP by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 22,903,476 shares of the computer maker’s stock valued at $861,205,000 after buying an additional 177,208 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of HP by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock valued at $486,668,000 after buying an additional 59,904 shares during the period. Finally, Norges Bank acquired a new position in HP during the 4th quarter valued at about $454,451,000. 81.94% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Marie Myers sold 20,638 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $36.58, for a total transaction of $754,938.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $36.27, for a total value of $1,233,180.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,638 shares of company stock worth $2,332,503. 0.22% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. HP’s dividend payout ratio (DPR) is currently 17.99%.
About HP (Get Rating)
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.
- Get a free copy of the StockNews.com research report on HP (HPQ)
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