$14.55 Billion in Sales Expected for HP Inc. (NYSE:HPQ) This Quarter

Equities research analysts expect HP Inc. (NYSE:HPQ) to post sales of $14.55 billion for the current quarter, Zacks reports. Two analysts have made estimates for HP’s earnings, with the highest sales estimate coming in at $14.59 billion and the lowest estimate coming in at $14.51 billion. HP posted sales of $15.41 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 24th.

According to Zacks, analysts expect that HP will report full-year sales of $55.95 billion for the current financial year, with estimates ranging from $55.90 billion to $56.00 billion. For the next fiscal year, analysts forecast that the company will report sales of $55.52 billion, with estimates ranging from $55.06 billion to $55.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow HP.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, August 27th. The computer maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. HP had a negative return on equity of 237.44% and a net margin of 4.51%. The firm had revenue of $14.29 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year.

A number of equities analysts have commented on HPQ shares. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 price objective on shares of HP in a research report on Sunday, June 7th. Bank of America lifted their target price on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a report on Friday, August 28th. Citigroup increased their price target on shares of HP from $16.00 to $18.50 and gave the company a “neutral” rating in a report on Friday, August 28th. ValuEngine upgraded shares of HP from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 9th. Finally, Barclays upped their target price on HP from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.03.

HPQ traded up $0.01 during trading hours on Monday, reaching $19.00. The company’s stock had a trading volume of 10,634,168 shares, compared to its average volume of 13,352,327. HP has a 52 week low of $12.54 and a 52 week high of $23.93. The company’s 50-day moving average is $18.84 and its 200-day moving average is $16.94. The firm has a market cap of $26.10 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.95 and a beta of 0.97.

In other HP news, insider Kim M. Rivera sold 97,324 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $19.35, for a total value of $1,883,219.40. Following the transaction, the insider now directly owns 105,899 shares of the company’s stock, valued at approximately $2,049,145.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alex Cho sold 46,201 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.90, for a total transaction of $919,399.90. Following the completion of the transaction, the insider now owns 54,336 shares of the company’s stock, valued at $1,081,286.40. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HPQ. BlackRock Inc. lifted its stake in HP by 16.6% during the second quarter. BlackRock Inc. now owns 117,859,851 shares of the computer maker’s stock worth $2,054,296,000 after purchasing an additional 16,774,693 shares during the last quarter. FMR LLC lifted its position in shares of HP by 3.9% during the 2nd quarter. FMR LLC now owns 28,009,125 shares of the computer maker’s stock worth $488,199,000 after buying an additional 1,043,307 shares during the last quarter. Geode Capital Management LLC boosted its stake in HP by 4.5% in the first quarter. Geode Capital Management LLC now owns 22,651,014 shares of the computer maker’s stock valued at $392,609,000 after buying an additional 974,006 shares in the last quarter. Baupost Group LLC MA grew its position in HP by 100.0% in the first quarter. Baupost Group LLC MA now owns 20,000,000 shares of the computer maker’s stock valued at $347,200,000 after acquiring an additional 10,000,000 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in HP by 107.5% in the first quarter. Nuveen Asset Management LLC now owns 17,289,519 shares of the computer maker’s stock valued at $300,146,000 after acquiring an additional 8,956,663 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

About HP

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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