HP (NYSE:HPQ) Announces Earnings Results, Misses Estimates By $0.03 EPS

HP (NYSE:HPQ) issued its quarterly earnings data on Wednesday. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03), Briefing.com reports. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the firm earned $0.86 EPS. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year.

HP Price Performance

HP stock opened at $36.18 on Friday. HP has a one year low of $25.22 and a one year high of $39.52. The stock’s 50 day moving average is $35.48 and its 200 day moving average is $32.38. The firm has a market cap of $35.40 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.24 and a beta of 1.09.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. HP’s payout ratio is 37.16%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of analyst reports. Barclays dropped their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday. Morgan Stanley dropped their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen boosted their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Finally, Citigroup increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.60.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of HP stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Trading of HP

Several hedge funds have recently modified their holdings of HPQ. International Assets Investment Management LLC acquired a new position in shares of HP during the fourth quarter valued at about $1,471,000. Federated Hermes Inc. boosted its holdings in HP by 747.0% in the fourth quarter. Federated Hermes Inc. now owns 33,151 shares of the computer maker’s stock worth $998,000 after acquiring an additional 29,237 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in HP by 7.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 29,318 shares of the computer maker’s stock valued at $887,000 after acquiring an additional 2,086 shares during the period. Choreo LLC bought a new stake in shares of HP during the fourth quarter valued at approximately $1,355,000. Finally, Van ECK Associates Corp raised its position in shares of HP by 8.2% during the fourth quarter. Van ECK Associates Corp now owns 30,151 shares of the computer maker’s stock worth $907,000 after purchasing an additional 2,293 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Company Profile

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.