Zacks: Brokerages Anticipate HP Inc. (HPQ) Will Announce Earnings of $0.50 Per Share

Equities research analysts forecast that HP Inc. (NYSE:HPQ) will post $0.50 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for HP’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. HP posted earnings per share of $0.43 in the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The company is expected to announce its next quarterly earnings report on Wednesday, August 22nd.

According to Zacks, analysts expect that HP will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.99 to $2.01. For the next year, analysts anticipate that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $1.89 to $2.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for HP.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, May 29th. The computer maker reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $13.57 billion. HP had a net margin of 7.84% and a negative return on equity of 99.90%. HP’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share.

Several brokerages have weighed in on HPQ. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, February 27th. Susquehanna Bancshares set a $22.00 price objective on shares of HP and gave the stock a “hold” rating in a research note on Friday, February 23rd. Maxim Group upgraded shares of HP from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $28.00 in a research note on Wednesday, May 30th. They noted that the move was a valuation call. ValuEngine downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Deutsche Bank lifted their price objective on shares of HP from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.47.

HPQ traded up $0.30 during trading on Monday, hitting $23.80. The stock had a trading volume of 14,974,228 shares, compared to its average volume of 9,363,562. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.62. HP has a twelve month low of $17.10 and a twelve month high of $24.75. The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of -2.41.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 12th will be given a dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.34%. HP’s dividend payout ratio is presently 33.94%.

In other HP news, insider Tracy S. Keogh sold 117,276 shares of HP stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $23.00, for a total value of $2,697,348.00. Following the completion of the transaction, the insider now owns 340,453 shares of the company’s stock, valued at $7,830,419. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy S. Keogh sold 117,275 shares of HP stock in a transaction on Monday, June 11th. The shares were sold at an average price of $24.00, for a total transaction of $2,814,600.00. Following the completion of the transaction, the insider now directly owns 243,526 shares of the company’s stock, valued at approximately $5,844,624. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC increased its stake in shares of HP by 1,153.0% during the fourth quarter. Advisors Preferred LLC now owns 4,774 shares of the computer maker’s stock worth $100,000 after purchasing an additional 4,393 shares in the last quarter. Bedel Financial Consulting Inc. purchased a new stake in shares of HP during the first quarter worth about $105,000. Rockefeller Capital Management L.P. purchased a new stake in shares of HP during the first quarter worth about $106,000. BB&T Investment Services Inc. increased its stake in shares of HP by 94.0% during the fourth quarter. BB&T Investment Services Inc. now owns 5,038 shares of the computer maker’s stock worth $108,000 after purchasing an additional 2,441 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of HP during the fourth quarter worth about $111,000. 79.91% of the stock is owned by institutional investors.

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 and Estimates for HP (NYSE:HPQ)

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