HP (HPQ) Issues Quarterly Earnings Results

HP (NYSE:HPQ) posted its quarterly earnings results on Thursday. The computer maker reported $0.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54, RTT News reports. The firm had revenue of $15.37 billion for the quarter, compared to analyst estimates of $15.13 billion. HP had a net margin of 9.11% and a negative return on equity of 155.65%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share.

Shares of NYSE:HPQ opened at $23.00 on Friday. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.46 and a beta of 1.50. HP has a 12-month low of $19.31 and a 12-month high of $27.08.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 13th will be given a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a yield of 2.79%. This is a boost from HP’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, December 12th. HP’s payout ratio is presently 27.72%.

In other HP news, COO Catherine A. Lesjak sold 693,594 shares of HP stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.78, for a total transaction of $17,880,853.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kim M. Rivera sold 46,072 shares of HP stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $24.14, for a total transaction of $1,112,178.08. Following the sale, the insider now directly owns 15,241 shares of the company’s stock, valued at approximately $367,917.74. The disclosure for this sale can be found here. Insiders have sold a total of 826,055 shares of company stock valued at $21,135,479 in the last three months. Company insiders own 0.25% of the company’s stock.

Several large investors have recently modified their holdings of the business. Franklin Street Advisors Inc. NC lifted its stake in shares of HP by 16.8% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 14,076 shares of the computer maker’s stock valued at $363,000 after purchasing an additional 2,026 shares during the last quarter. Northwest Bancshares Inc. lifted its stake in shares of HP by 2.9% in the 3rd quarter. Northwest Bancshares Inc. now owns 72,715 shares of the computer maker’s stock valued at $1,874,000 after purchasing an additional 2,069 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of HP by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 211,566 shares of the computer maker’s stock valued at $4,800,000 after purchasing an additional 2,101 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of HP by 25.1% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 11,352 shares of the computer maker’s stock valued at $293,000 after purchasing an additional 2,278 shares during the last quarter. Finally, MAI Capital Management lifted its stake in shares of HP by 16.5% in the 2nd quarter. MAI Capital Management now owns 16,542 shares of the computer maker’s stock valued at $375,000 after purchasing an additional 2,348 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Several equities analysts have weighed in on the stock. Maxim Group lifted their price objective on shares of HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Argus reiterated a “buy” rating on shares of HP in a research report on Monday, October 8th. Morgan Stanley lifted their price objective on shares of HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, August 24th. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Wells Fargo & Co lifted their price objective on shares of HP from $21.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, August 24th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. HP currently has a consensus rating of “Hold” and a consensus price target of $27.25.

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About HP

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.

Further Reading: Why investors pay attention to retained earnings

Earnings History for HP (NYSE:HPQ)

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