HP Inc. (NYSE:HPQ – Get Rating) – Stock analysts at Jefferies Financial Group upped their Q4 2023 earnings per share (EPS) estimates for shares of HP in a research report issued to clients and investors on Wednesday, November 23rd. Jefferies Financial Group analyst K. Mcnealy now forecasts that the computer maker will post earnings per share of $0.93 for the quarter, up from their prior estimate of $0.92. The consensus estimate for HP's current full-year earnings is $3.40 per share.
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HPQ has been the subject of a number of other reports. Loop Capital downgraded HP from a "buy" rating to a "hold" rating and cut their price target for the stock from $50.00 to $29.00 in a research note on Thursday, September 1st. StockNews.com assumed coverage on HP in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Credit Suisse Group downgraded HP from an "outperform" rating to a "neutral" rating and set a $33.00 price objective on the stock. in a research note on Friday, November 18th. Barclays cut their price objective on HP from $27.00 to $24.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 23rd. Finally, Morgan Stanley cut their price objective on HP from $28.00 to $24.00 and set an "underweight" rating on the stock in a research note on Monday, October 17th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, HP has an average rating of "Hold" and an average price target of $29.67.
HP Price Performance
HPQ opened at $30.15 on Monday. HP has a fifty-two week low of $24.08 and a fifty-two week high of $41.47. The business has a 50-day moving average of $27.19 and a 200-day moving average of $31.18. The company has a market capitalization of $30.33 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 3.20 and a beta of 0.99.
HP (NYSE:HPQ – Get Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. HP had a negative return on equity of 181.32% and a net margin of 5.09%. The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.68 billion. During the same period last year, the business earned $0.94 EPS. The business's quarterly revenue was down 11.2% on a year-over-year basis.
HP Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, December 13th. This is a positive change from HP's previous quarterly dividend of $0.25. HP's dividend payout ratio (DPR) is presently 33.22%.
Insider Transactions at HP
In other news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.23, for a total transaction of $857,820.00. Following the sale, the chief executive officer now owns 517,204 shares of the company's stock, valued at approximately $13,049,056.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by insiders.
Institutional Trading of HP
Several institutional investors have recently bought and sold shares of HPQ. New England Asset Management Inc. boosted its stake in HP by 11,092.9% in the 2nd quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker's stock valued at $540,361,000 after buying an additional 16,337,183 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in HP by 41.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker's stock valued at $254,716,000 after buying an additional 2,061,479 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in HP in the 3rd quarter valued at $46,671,000. Pacer Advisors Inc. boosted its stake in HP by 41.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,865,955 shares of the computer maker's stock valued at $121,260,000 after buying an additional 1,431,079 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in HP by 485.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 1,381,492 shares of the computer maker's stock valued at $34,427,000 after buying an additional 1,145,593 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.
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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