According to Zacks, “HP’s efforts to turnaround the business have been commendable. The company is focusing on product innovation & differentiation, pricing, and marketing and sales activities to trigger demand for its PC and Printing products in the market, which is currently witnessing a slowdown. The company projects CPU shortages to show improvements during the second half as well as the cost from the overall basket of Components and Logistics is anticipated to improve. We note that rising macro uncertainties and price sensitivity among customers are overhangs on the company’s high-margin Printing business. Change in customer behavior with more customers buying items online, is negatively impacting HP’s Supplies share. Adverse currency volatility is another headwind to the company. Shares underperformed the industry in the past year.”
Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reissued a “buy” rating and set a $26.00 price target on shares of HP in a report on Wednesday, January 2nd. Standpoint Research started coverage on shares of HP in a report on Wednesday, December 26th. They set a “buy” rating and a $19.38 price target for the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a report on Thursday, February 28th. BMO Capital Markets reissued a “hold” rating and set a $22.00 price target on shares of HP in a report on Wednesday, February 27th. Finally, ValuEngine raised shares of HP from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.03.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. HP had a net margin of 7.15% and a negative return on equity of 216.97%. The firm had revenue of $14.71 billion during the quarter, compared to the consensus estimate of $14.81 billion. During the same period last year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that HP will post 2.14 earnings per share for the current fiscal year.
In other HP news, CEO Dion J. Weisler sold 36,799 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Norges Bank bought a new position in shares of HP in the fourth quarter worth about $334,781,000. Oregon Public Employees Retirement Fund raised its stake in shares of HP by 2,609.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock worth $564,000 after acquiring an additional 11,118,507 shares during the last quarter. Morgan Stanley raised its stake in shares of HP by 136.0% in the third quarter. Morgan Stanley now owns 12,812,429 shares of the computer maker’s stock worth $330,176,000 after acquiring an additional 7,384,389 shares during the last quarter. Millennium Management LLC raised its stake in shares of HP by 618.3% in the fourth quarter. Millennium Management LLC now owns 3,497,565 shares of the computer maker’s stock worth $71,560,000 after acquiring an additional 3,010,663 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in shares of HP by 113.6% in the first quarter. DNB Asset Management AS now owns 5,496,652 shares of the computer maker’s stock worth $106,800,000 after acquiring an additional 2,923,736 shares during the last quarter. 81.01% of the stock is owned by institutional investors.
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.
Featured Story: What Are Treasury Bonds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.