HP Inc. (HPQ) Expected to Announce Quarterly Sales of $14.06 Billion

Wall Street analysts expect HP Inc. (NYSE:HPQ) to report $14.06 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for HP’s earnings, with the lowest sales estimate coming in at $14.05 billion and the highest estimate coming in at $14.08 billion. HP posted sales of $14.00 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The business is expected to announce its next earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that HP will report full year sales of $58.94 billion for the current fiscal year, with estimates ranging from $58.87 billion to $59.02 billion. For the next year, analysts anticipate that the firm will report sales of $59.44 billion, with estimates ranging from $58.99 billion to $59.84 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for HP.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. The company had revenue of $14.71 billion for the quarter, compared to the consensus estimate of $14.81 billion. HP had a net margin of 7.15% and a negative return on equity of 216.97%. HP’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share.

A number of equities analysts have weighed in on HPQ shares. Standpoint Research started coverage on shares of HP in a research note on Wednesday, December 26th. They set a “buy” rating and a $19.38 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $26.00 price target on shares of HP in a research note on Wednesday, January 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 price target on shares of HP in a research note on Wednesday, February 27th. Bank of America downgraded shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research note on Thursday, February 28th. Finally, ValuEngine downgraded shares of HP from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. HP presently has a consensus rating of “Hold” and an average target price of $26.03.

NYSE:HPQ opened at $20.52 on Monday. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 3.39 and a beta of 1.39. HP has a fifty-two week low of $18.46 and a fifty-two week high of $27.08.

In other news, CEO Dion J. Weisler sold 36,799 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.00, for a total value of $735,980.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Claybrook Capital LLC grew its holdings in HP by 367.8% during the 4th quarter. Claybrook Capital LLC now owns 1,235 shares of the computer maker’s stock valued at $25,000 after purchasing an additional 971 shares in the last quarter. Dubuque Bank & Trust Co. grew its holdings in HP by 1,760.0% during the 1st quarter. Dubuque Bank & Trust Co. now owns 1,302 shares of the computer maker’s stock valued at $25,000 after purchasing an additional 1,232 shares in the last quarter. Sontag Advisory LLC acquired a new stake in HP during the 4th quarter valued at $26,000. Gradient Investments LLC grew its holdings in HP by 331.6% during the 1st quarter. Gradient Investments LLC now owns 1,394 shares of the computer maker’s stock valued at $27,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Athena Capital Advisors LLC acquired a new stake in HP during the 4th quarter valued at $29,000. 81.01% of the stock is currently owned by institutional investors and hedge funds.

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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