HP (NYSE:HPQ) Releases Earnings Results, Beats Expectations By $0.01 EPS

HP (NYSE:HPQGet Free Report) announced its quarterly earnings data on Wednesday. The computer maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01, Briefing.com reports. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. HP’s quarterly revenue was down .8% on a year-over-year basis.

HP Trading Down 1.0 %

HP stock opened at $32.82 on Thursday. The stock has a market cap of $32.19 billion, a PE ratio of 9.60, a P/E/G ratio of 2.48 and a beta of 1.06. The stock has a 50-day moving average price of $29.70 and a 200 day moving average price of $29.48. HP has a 52 week low of $25.22 and a 52 week high of $33.90.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Shareholders of record on Wednesday, June 12th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, June 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 in the last 90 days. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays raised shares of HP from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $24.00 to $30.00 in a research report on Tuesday, May 21st. Morgan Stanley increased their price target on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen increased their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday. Bank of America raised their target price on shares of HP from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Check Out Our Latest Research Report on HP

About HP

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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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