HP (NYSE:HPQ) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

HP (NYSE:HPQ) posted its quarterly earnings data on Tuesday. The computer maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02, RTT News reports. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.29 billion. During the same period last year, the company posted $0.54 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis.

Shares of HPQ opened at $19.79 on Thursday. The stock has a 50 day moving average price of $18.26 and a two-hundred day moving average price of $19.24. The firm has a market capitalization of $29.86 billion, a P/E ratio of 8.83, a P/E/G ratio of 3.94 and a beta of 1.41. HP has a 52 week low of $15.93 and a 52 week high of $24.17.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.176 per share. This is a positive change from HP’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Tuesday, December 10th. HP’s payout ratio is currently 28.57%.

In other HP news, insider Christoph Schell sold 60,121 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $20.17, for a total transaction of $1,212,640.57. Following the completion of the sale, the insider now directly owns 179,029 shares of the company’s stock, valued at approximately $3,611,014.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

A number of analysts recently commented on HPQ shares. Citigroup set a $20.00 target price on HP and gave the company a “hold” rating in a research report on Friday, August 23rd. Argus lowered HP from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Loop Capital lowered HP from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.00 to $19.00 in a research report on Friday, October 4th. Wells Fargo & Co reaffirmed a “hold” rating on shares of HP in a research report on Tuesday. Finally, UBS Group lowered HP from a “buy” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $20.00 in a research report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.91.

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.

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Earnings History for HP (NYSE:HPQ)

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