HP Inc. (NYSE:HPQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of HP Inc. (NYSE:HPQ) have been given an average rating of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $29.54.

Several equities research analysts have weighed in on HPQ shares. UBS Group cut their price target on HP from $37.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Citigroup dropped their target price on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. TD Cowen dropped their target price on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Morgan Stanley dropped their target price on HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America dropped their target price on HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HPQ. WPG Advisers LLC purchased a new position in HP in the 1st quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in HP in the 1st quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP in the 4th quarter worth approximately $36,000. Iron Horse Wealth Management LLC purchased a new position in HP in the 1st quarter worth approximately $39,000. Finally, Financial Freedom LLC lifted its stake in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock worth $42,000 after purchasing an additional 878 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HPQ opened at $24.56 on Thursday. The business’s 50-day moving average is $25.92 and its two-hundred day moving average is $28.30. The company has a market capitalization of $23.06 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.99 and a beta of 1.27. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. HP’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. Analysts forecast that HP will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio is presently 44.79%.

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.