Brokerages Anticipate HP Inc. (NYSE:HPQ) to Announce $0.55 Earnings Per Share

Wall Street brokerages forecast that HP Inc. (NYSE:HPQ) will report $0.55 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for HP’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.56. HP reported earnings of $0.52 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The firm is expected to report its next earnings results after the market closes on Thursday, August 22nd.

According to Zacks, analysts expect that HP will report full-year earnings of $2.17 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.19. For the next financial year, analysts expect that the company will post earnings of $2.24 per share, with EPS estimates ranging from $2.17 to $2.32. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow HP.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The company had revenue of $14.04 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year.

Several research analysts have recently issued reports on the company. Evercore ISI assumed coverage on HP in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price objective for the company. Deutsche Bank assumed coverage on HP in a research note on Wednesday, June 19th. They issued a “hold” rating and a $20.00 price objective for the company. Barclays assumed coverage on HP in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $21.00 price objective for the company. Morgan Stanley raised their price objective on HP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. Finally, Wolfe Research cut HP from an “outperform” rating to a “peer perform” rating and reduced their price objective for the stock from $25.00 to $21.00 in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. HP currently has a consensus rating of “Hold” and a consensus target price of $24.24.

In related news, CEO Dion J. Weisler sold 132,964 shares of HP stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $20.95, for a total transaction of $2,785,595.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shumeet Banerji sold 28,000 shares of HP stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $560,000.00. Following the transaction, the director now owns 31,311 shares of the company’s stock, valued at $626,220. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,635 shares of company stock valued at $4,423,266. 0.25% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HPQ. Nuveen Asset Management LLC grew its holdings in HP by 645.3% in the second quarter. Nuveen Asset Management LLC now owns 7,674,530 shares of the computer maker’s stock valued at $159,553,000 after purchasing an additional 6,644,860 shares during the period. AQR Capital Management LLC grew its holdings in HP by 44.2% in the first quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares during the period. Great West Life Assurance Co. Can grew its holdings in HP by 43.3% in the first quarter. Great West Life Assurance Co. Can now owns 4,453,835 shares of the computer maker’s stock valued at $86,294,000 after purchasing an additional 1,345,969 shares during the period. LSV Asset Management grew its holdings in HP by 8.1% in the first quarter. LSV Asset Management now owns 16,092,374 shares of the computer maker’s stock valued at $312,674,000 after purchasing an additional 1,199,670 shares during the period. Finally, Morgan Stanley grew its holdings in HP by 12.5% in the second quarter. Morgan Stanley now owns 10,247,972 shares of the computer maker’s stock valued at $213,054,000 after purchasing an additional 1,142,355 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Shares of NYSE:HPQ traded up $0.45 during trading on Monday, hitting $19.08. The stock had a trading volume of 10,938,900 shares, compared to its average volume of 8,453,770. HP has a 12-month low of $18.06 and a 12-month high of $27.08. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 2.90 and a beta of 1.40. The stock has a 50-day simple moving average of $20.66 and a two-hundred day simple moving average of $20.42.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio is currently 31.68%.

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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