HP Inc. (NYSE:HPQ) Receives $36.92 Average Price Target from Brokerages

HP Inc. (NYSE:HPQGet Rating) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $36.92.

Several equities analysts have commented on HPQ shares. StockNews.com cut HP from a “buy” rating to a “hold” rating in a report on Friday, June 3rd. JPMorgan Chase & Co. cut their price target on HP from $41.00 to $39.00 in a report on Wednesday, May 25th. UBS Group cut HP from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Friday, April 8th. Barclays upped their price target on HP from $29.00 to $32.00 and gave the company an “underweight” rating in a report on Wednesday, June 1st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $42.00 price target on shares of HP in a report on Friday, February 25th.

NYSE HPQ opened at $33.74 on Friday. HP has a twelve month low of $26.11 and a twelve month high of $41.47. The stock has a market capitalization of $34.89 billion, a PE ratio of 6.07, a P/E/G ratio of 1.95 and a beta of 0.92. The stock has a 50-day simple moving average of $36.89 and a 200 day simple moving average of $36.95.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The computer maker reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The business had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.19 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that HP will post 4.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.96%. HP’s payout ratio is presently 17.99%.

In other HP news, Director Bruce D. Broussard purchased 6,810 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were acquired at an average cost of $36.67 per share, for a total transaction of $249,722.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Marie Myers sold 20,638 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $36.58, for a total value of $754,938.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,857 shares of company stock worth $2,574,733. 0.22% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in HP by 0.6% in the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock valued at $3,673,596,000 after buying an additional 573,468 shares during the last quarter. State Street Corp boosted its position in HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after buying an additional 980,653 shares during the last quarter. Geode Capital Management LLC boosted its position in HP by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 22,903,476 shares of the computer maker’s stock valued at $861,205,000 after buying an additional 177,208 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in HP by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock valued at $486,668,000 after buying an additional 59,904 shares during the last quarter. Finally, Norges Bank bought a new position in HP in the 4th quarter valued at $454,451,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

HP Company Profile (Get Rating)

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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