HP Inc. (NYSE:HPQ - Get Free Report) shares gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $27.20, but opened at $23.82. HP shares last traded at $25.14, with a volume of 4,830,879 shares.
The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm's revenue for the quarter was up 3.3% on a year-over-year basis.
HP Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's payout ratio is presently 41.37%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Bank of America cut their target price on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday. Barclays set a $28.00 price target on HP and gave the company an "equal weight" rating in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.54.
Get Our Latest Analysis on HP
Insider Buying and Selling
In related news, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
Institutional Trading of HP
Large investors have recently bought and sold shares of the business. WPG Advisers LLC acquired a new stake in HP during the 1st quarter worth about $25,000. Synergy Asset Management LLC acquired a new stake in HP during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in HP during the 4th quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HP during the 1st quarter worth about $35,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP during the 4th quarter worth about $36,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.
HP Stock Performance
The stock has a fifty day simple moving average of $25.95 and a two-hundred day simple moving average of $30.69. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.96 and a beta of 1.32.
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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