HP (NYSE:HPQ) Announces Earnings Results, Beats Estimates By $0.06 EPS

HP (NYSE:HPQ) posted its quarterly earnings results on Monday. The computer maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06, MarketWatch Earnings reports. HP had a negative return on equity of 137.22% and a net margin of 6.56%. The business had revenue of $16.68 billion during the quarter, compared to analysts’ expectations of $15.42 billion. During the same quarter last year, the company posted $0.62 earnings per share. HP’s quarterly revenue was up 9.3% on a year-over-year basis.

HPQ traded up $3.25 during trading on Wednesday, hitting $35.44. 33,965,855 shares of the stock traded hands, compared to its average volume of 9,616,969. HP has a twelve month low of $21.80 and a twelve month high of $36.21. The company has a market cap of $40.85 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.61 and a beta of 1.03. The business has a 50 day moving average price of $29.59 and a 200 day moving average price of $29.66.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 8th will be given a dividend of $0.25 per share. This is an increase from HP’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, December 7th. HP’s payout ratio is currently 24.22%.

A number of research firms recently commented on HPQ. Bank of America lifted their price target on HP from $29.00 to $33.00 and gave the stock an “underperform” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on HP in a report on Monday, August 9th. They set a “hold” rating and a $31.00 price objective for the company. Evercore ISI boosted their price objective on HP from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital boosted their price objective on HP from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on HP from $32.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, HP presently has a consensus rating of “Hold” and an average target price of $32.77.

In other news, insider Alex Cho sold 38,411 shares of the company’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $31.04, for a total transaction of $1,192,277.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $27.53, for a total transaction of $936,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,973 shares of company stock valued at $7,430,226. Company insiders own 0.19% of the company’s stock.

An institutional investor recently raised its position in HP stock. Ironwood Wealth Management LLC. boosted its stake in HP Inc. (NYSE:HPQ) by 117.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,674 shares of the computer maker’s stock after purchasing an additional 1,447 shares during the period. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 at the end of the most recent reporting period. 80.06% of the stock is owned by institutional investors and hedge funds.

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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