HP Inc. (HPQ) Expected to Post Quarterly Sales of $14.06 Billion

Wall Street brokerages predict that HP Inc. (NYSE:HPQ) will report $14.06 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for HP’s earnings, with estimates ranging from $14.05 billion to $14.08 billion. HP reported sales of $14.00 billion during the same quarter last year, which would suggest a positive year over year growth rate of 0.4%. The firm is expected to report its next quarterly earnings results on Tuesday, June 4th.

According to Zacks, analysts expect that HP will report full year sales of $58.94 billion for the current fiscal year, with estimates ranging from $58.87 billion to $59.02 billion. For the next year, analysts expect that the company will post sales of $59.44 billion, with estimates ranging from $58.99 billion to $59.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow HP.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The firm had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis.



HPQ has been the topic of several research analyst reports. ValuEngine cut HP from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. JPMorgan Chase & Co. set a $26.00 target price on HP and gave the stock a “neutral” rating in a research report on Friday, November 30th. Wolfe Research began coverage on HP in a research report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Standpoint Research began coverage on HP in a research report on Wednesday, December 26th. They issued a “buy” rating and a $19.38 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $26.00 target price on shares of HP in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.38.

HPQ traded up $0.03 during trading hours on Thursday, hitting $19.64. 18,526,834 shares of the stock were exchanged, compared to its average volume of 11,539,909. HP has a 12 month low of $18.46 and a 12 month high of $27.08. The stock has a market capitalization of $29.23 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 3.15 and a beta of 1.39.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be given a $0.1602 dividend. This represents a $0.64 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 12th. HP’s dividend payout ratio is presently 31.68%.

In other HP news, insider Alex Cho sold 28,774 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $22.30, for a total value of $641,660.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.28% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of HPQ. Norges Bank acquired a new position in shares of HP during the fourth quarter valued at $334,781,000. Oregon Public Employees Retirement Fund increased its holdings in shares of HP by 2,609.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock valued at $564,000 after purchasing an additional 11,118,507 shares during the period. Morgan Stanley increased its holdings in shares of HP by 136.0% during the third quarter. Morgan Stanley now owns 12,812,429 shares of the computer maker’s stock valued at $330,176,000 after purchasing an additional 7,384,389 shares during the period. Millennium Management LLC increased its holdings in shares of HP by 618.3% during the fourth quarter. Millennium Management LLC now owns 3,497,565 shares of the computer maker’s stock valued at $71,560,000 after purchasing an additional 3,010,663 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of HP by 31.1% during the third quarter. AQR Capital Management LLC now owns 10,995,938 shares of the computer maker’s stock valued at $283,365,000 after purchasing an additional 2,609,734 shares during the period. 78.98% of the stock is currently owned by institutional investors.

About HP

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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