HP (NYSE:HPQ) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

HP (NYSE:HPQ) announced its earnings results on Tuesday. The computer maker reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01, FiscalAI reports. The business had revenue of $14.64 billion for the quarter, compared to the consensus estimate of $14.50 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.

HP Stock Down 0.5%

HPQ stock traded down $0.12 during trading hours on Tuesday, hitting $24.26. The company’s stock had a trading volume of 20,528,899 shares, compared to its average volume of 9,236,303. The company has a market capitalization of $22.68 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.28. The stock has a 50 day moving average price of $26.58 and a two-hundred day moving average price of $26.41. HP has a 12 month low of $21.21 and a 12 month high of $39.62.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 34,282 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $26.85, for a total value of $920,471.70. Following the completion of the sale, the chief executive officer directly owned 3 shares in the company, valued at approximately $80.55. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anneliese Olson sold 18,154 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $27.88, for a total value of $506,133.52. Following the transaction, the insider owned 169 shares in the company, valued at approximately $4,711.72. This trade represents a 99.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of HP

Several hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC lifted its position in HP by 3.3% during the second quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker’s stock worth $305,000 after acquiring an additional 398 shares during the last quarter. Vident Advisory LLC increased its stake in shares of HP by 0.6% during the second quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker’s stock worth $1,702,000 after purchasing an additional 444 shares during the period. Vise Technologies Inc. lifted its holdings in HP by 2.4% during the 3rd quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker’s stock worth $559,000 after purchasing an additional 477 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in HP by 2.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker’s stock worth $519,000 after purchasing an additional 551 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its stake in HP by 3.3% in the 3rd quarter. United Capital Financial Advisors LLC now owns 30,123 shares of the computer maker’s stock valued at $820,000 after purchasing an additional 962 shares during the period. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of HP from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Hsbc Global Res upgraded shares of HP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Morgan Stanley set a $21.00 price objective on shares of HP in a research report on Friday. Citigroup decreased their price target on HP from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Zacks Research upgraded HP from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.67.

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.