HP (HPQ) Set to Announce Quarterly Earnings on Tuesday

HP (NYSE:HPQ – Get Rating) will be issuing its quarterly earnings data after the market closes on Tuesday, May 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

HP (NYSE:HPQ – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same period in the prior year, the business posted $1.10 EPS. HP’s revenue was down 18.8% on a year-over-year basis. On average, analysts expect HP to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

HP Price Performance

HP stock opened at $30.71 on Tuesday. The firm has a market capitalization of $30.25 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.37 and a beta of 1.00. The company’s 50 day simple moving average is $29.38 and its 200 day simple moving average is $28.93. HP has a fifty-two week low of $24.08 and a fifty-two week high of $40.79.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.42%. HP’s dividend payout ratio is 41.83%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HPQ shares. StockNews.com started coverage on HP in a report on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley upgraded HP from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $28.00 to $31.00 in a report on Monday, May 1st. The Goldman Sachs Group began coverage on HP in a research note on Monday, March 20th. They set a “neutral” rating and a $26.00 target price for the company. TheStreet lowered shares of HP from a “b-” rating to a “c+” rating in a research note on Tuesday, February 28th. Finally, Bank of America cut their price objective on shares of HP from $27.00 to $26.00 in a research report on Wednesday, March 1st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $29.69.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 38,000 shares of HP stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $29.51, for a total transaction of $1,121,380.00. Following the completion of the transaction, the chief executive officer now owns 766,268 shares in the company, valued at $22,612,568.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other HP news, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $29.51, for a total transaction of $1,121,380.00. Following the completion of the sale, the chief executive officer now owns 766,268 shares of the company’s stock, valued at approximately $22,612,568.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total transaction of $220,440.60. Following the completion of the transaction, the chief financial officer now owns 22,648 shares in the company, valued at $676,495.76. The disclosure for this sale can be found here. Insiders sold a total of 53,710 shares of company stock worth $1,588,389 over the last quarter. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HP

Several hedge funds have recently bought and sold shares of HPQ. Moneta Group Investment Advisors LLC boosted its position in shares of HP by 114,461.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after acquiring an additional 11,528,558 shares during the period. Norges Bank bought a new stake in HP in the 4th quarter valued at about $151,025,000. Morgan Stanley grew its position in shares of HP by 22.5% during the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock worth $393,364,000 after purchasing an additional 2,686,976 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of HP by 2,958.9% during the fourth quarter. Alps Advisors Inc. now owns 921,165 shares of the computer maker’s stock worth $24,752,000 after purchasing an additional 891,051 shares during the period. Finally, Applied Finance Capital Management LLC acquired a new stake in shares of HP in the fourth quarter valued at approximately $21,315,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.

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.