HP (NYSE:HPQ) Posts Earnings Results, Beats Expectations By $0.01 EPS

HP (NYSE:HPQGet Rating) announced its earnings results on Tuesday. The computer maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01, RTT News reports. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.68 billion. HP had a negative return on equity of 196.62% and a net margin of 5.09%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS.

HP Stock Up 1.8 %

Shares of HP stock traded up $0.53 on Thursday, reaching $29.91. The company’s stock had a trading volume of 17,741,296 shares, compared to its average volume of 8,791,666. The company has a market capitalization of $30.09 billion, a P/E ratio of 9.94, a PEG ratio of 3.02 and a beta of 0.99. The stock has a 50-day moving average price of $27.07 and a 200-day moving average price of $31.32. HP has a 52-week low of $24.08 and a 52-week high of $41.47.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.2625 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.05 dividend on an annualized basis and a yield of 3.51%. This is an increase from HP’s previous quarterly dividend of $0.25. HP’s dividend payout ratio is currently 33.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HPQ shares. Wells Fargo & Company decreased their price objective on shares of HP from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. Bank of America dropped their price objective on shares of HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a report on Friday, November 18th. Cfra set a $31.00 target price on HP in a research note on Thursday. Morgan Stanley dropped their price target on HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Finally, Credit Suisse Group lowered HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Friday, November 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $29.67.

Insider Activity

In other news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.23, for a total value of $857,820.00. Following the sale, the chief executive officer now owns 517,204 shares in the company, valued at $13,049,056.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On HP

Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. KCM Investment Advisors LLC raised its stake in HP by 4.4% in the 1st quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock valued at $347,000 after purchasing an additional 400 shares during the last quarter. Linscomb & Williams Inc. boosted its position in HP by 8.9% during the first quarter. Linscomb & Williams Inc. now owns 7,688 shares of the computer maker’s stock worth $279,000 after acquiring an additional 631 shares during the last quarter. Certified Advisory Corp purchased a new stake in HP during the 1st quarter valued at about $26,000. Industrial Alliance Investment Management Inc. raised its holdings in HP by 11.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 8,067 shares of the computer maker’s stock valued at $293,000 after acquiring an additional 855 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in HP by 6.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,057 shares of the computer maker’s stock worth $376,000 after purchasing an additional 879 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.

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Earnings History for HP (NYSE:HPQ)

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