HP (NYSE:HPQ) Announces Earnings Results, Beats Estimates By $0.06 EPS

HP (NYSE:HPQ) issued its quarterly earnings results on Tuesday. The computer maker reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06, MarketWatch Earnings reports. The firm had revenue of $16.68 billion for the quarter, compared to analyst estimates of $15.42 billion. HP had a net margin of 6.56% and a negative return on equity of 137.22%. HP’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS.

Shares of HPQ opened at $35.44 on Thursday. The company has a market capitalization of $40.85 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.61 and a beta of 1.03. The company’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $29.66. HP has a 1 year low of $21.80 and a 1 year high of $36.21.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 5th. Investors of record on Wednesday, December 8th will be paid a dividend of $0.25 per share. This is an increase from HP’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, December 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. HP’s dividend payout ratio is presently 24.22%.

A number of brokerages recently weighed in on HPQ. Loop Capital raised their price target on shares of HP from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 1st. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Friday, November 5th. Bank of America raised their price target on shares of HP from $29.00 to $33.00 and gave the stock an “underperform” rating in a report on Wednesday. Credit Suisse Group lifted their target price on shares of HP from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, October 21st. Finally, Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and an average price target of $32.77.

In other HP news, CEO Enrique Lores sold 34,000 shares of the stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $27.53, for a total transaction of $936,020.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alex Cho sold 38,411 shares of the stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $31.04, for a total transaction of $1,192,277.44. The disclosure for this sale can be found here. Insiders have sold 237,973 shares of company stock worth $7,430,226 in the last three months. Insiders own 0.19% of the company’s stock.

A hedge fund recently raised its stake in HP stock. Ironwood Wealth Management LLC. lifted its holdings in HP Inc. (NYSE:HPQ) by 117.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,674 shares of the computer maker’s stock after acquiring an additional 1,447 shares during the period. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 as of its most recent SEC filing. Institutional investors and hedge funds own 80.06% of the company’s stock.

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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