HP (NYSE:HPQ) Issues Earnings Results

HP (NYSE:HPQ) issued its earnings results on Tuesday. The computer maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02, RTT News reports. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.29 billion. HP had a negative return on equity of 229.56% and a net margin of 5.36%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share.

NYSE HPQ opened at $19.79 on Friday. The company has a market cap of $29.73 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 3.93 and a beta of 1.41. HP has a 52 week low of $15.93 and a 52 week high of $24.17. The business has a 50 day moving average price of $18.33 and a 200-day moving average price of $19.25.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.176 per share. This is an increase from HP’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.70 annualized dividend and a dividend yield of 3.56%. HP’s payout ratio is currently 28.57%.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded HP from a “hold” rating to a “sell” rating and set a $21.00 target price for the company. in a report on Thursday, November 7th. Wells Fargo & Co reiterated a “hold” rating on shares of HP in a report on Tuesday. UBS Group downgraded HP from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $20.00 in a report on Monday, September 16th. Bank of America lowered their target price on HP from $17.00 to $16.00 and set an “underperform” rating for the company in a report on Friday, October 4th. Finally, Loop Capital downgraded HP from a “buy” rating to a “hold” rating and lowered their target price for the stock from $21.00 to $19.00 in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. HP presently has a consensus rating of “Hold” and a consensus price target of $19.91.

In other news, insider Christoph Schell sold 60,121 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $20.17, for a total transaction of $1,212,640.57. Following the completion of the sale, the insider now owns 179,029 shares in the company, valued at $3,611,014.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

HP Company Profile

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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