Zacks: Brokerages Anticipate HP Inc. (NYSE:HPQ) to Announce $0.55 EPS

Wall Street brokerages forecast that HP Inc. (NYSE:HPQ) will announce earnings per share (EPS) of $0.55 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for HP’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.56. HP reported earnings of $0.52 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 22nd.

On average, analysts expect that HP will report full-year earnings of $2.17 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.19. For the next fiscal year, analysts anticipate that the business will post earnings of $2.24 per share, with EPS estimates ranging from $2.17 to $2.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for HP.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $14.04 billion for the quarter, compared to analyst estimates of $13.97 billion. HP had a net margin of 6.67% and a negative return on equity of 232.81%. HP’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share.

Several brokerages recently commented on HPQ. Evercore ISI assumed coverage on shares of HP in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price objective for the company. Wolfe Research lowered HP from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $25.00 to $21.00 in a report on Tuesday, May 14th. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Morgan Stanley upped their price objective on HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. upped their price objective on HP from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.24.

In related news, CEO Dion J. Weisler sold 132,964 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $20.95, for a total transaction of $2,785,595.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shumeet Banerji sold 28,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $560,000.00. Following the sale, the director now owns 31,311 shares of the company’s stock, valued at $626,220. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,635 shares of company stock valued at $4,423,266. Corporate insiders own 0.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of HP by 1.6% in the first quarter. FMR LLC now owns 20,390,859 shares of the computer maker’s stock valued at $396,194,000 after buying an additional 313,469 shares during the period. Inlet Private Wealth LLC increased its position in HP by 28.0% in the first quarter. Inlet Private Wealth LLC now owns 51,216 shares of the computer maker’s stock worth $995,000 after buying an additional 11,216 shares during the last quarter. Virtu Financial LLC increased its position in HP by 57.7% in the first quarter. Virtu Financial LLC now owns 72,573 shares of the computer maker’s stock worth $1,410,000 after buying an additional 26,556 shares during the last quarter. Iberiabank Corp increased its position in HP by 23.3% in the first quarter. Iberiabank Corp now owns 299,072 shares of the computer maker’s stock worth $5,811,000 after buying an additional 56,593 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in HP by 3.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,652 shares of the computer maker’s stock worth $1,742,000 after buying an additional 3,325 shares during the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.

Shares of NYSE HPQ traded down $0.36 during midday trading on Monday, hitting $18.92. 4,536,681 shares of the stock traded hands, compared to its average volume of 7,752,605. The stock has a 50-day moving average price of $20.78. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 2.94 and a beta of 1.40. HP has a one year low of $18.06 and a one year high of $27.08.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.38%. HP’s payout ratio is 31.68%.

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.

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