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

Wall Street analysts expect that HP Inc. (NYSE:HPQ) will post sales of $14.55 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued 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 during the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The firm is expected to issue its next 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 year, with estimates ranging from $55.90 billion to $56.00 billion. For the next fiscal year, analysts anticipate that the company will post sales of $55.52 billion, with estimates ranging from $55.06 billion to $55.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for HP.

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

Several analysts have recently commented on the company. Citigroup raised their price target on HP from $16.00 to $18.50 and gave the company a “neutral” rating in a report on Friday, August 28th. BofA Securities raised their price objective on HP from $16.00 to $18.00 and gave the company an “underperform” rating in a research note on Friday, August 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of HP in a research note on Sunday, June 7th. UBS Group raised HP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $25.00 in a research note on Wednesday, September 23rd. Finally, Loop Capital raised their price objective on HP from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. HP has a consensus rating of “Hold” and a consensus target price of $19.03.

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

Hedge funds have recently bought and sold shares of the company. Farmers Trust Co. boosted its holdings in shares of HP by 4.3% during the second quarter. Farmers Trust Co. now owns 237,485 shares of the computer maker’s stock worth $4,140,000 after purchasing an additional 9,756 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of HP during the second quarter worth $355,000. APG Asset Management N.V. boosted its holdings in shares of HP by 56.0% during the first quarter. APG Asset Management N.V. now owns 1,452,890 shares of the computer maker’s stock worth $25,222,000 after purchasing an additional 521,490 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in HP by 15.4% in the second quarter. Commonwealth Equity Services LLC now owns 628,094 shares of the computer maker’s stock valued at $10,947,000 after acquiring an additional 83,722 shares during the last quarter. Finally, DNB Asset Management AS boosted its holdings in HP by 170.6% in the second quarter. DNB Asset Management AS now owns 3,172,975 shares of the computer maker’s stock valued at $55,305,000 after acquiring an additional 2,000,285 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Shares of HPQ traded up $0.01 during mid-day trading on Monday, hitting $19.00. The company’s stock had a trading volume of 10,634,167 shares, compared to its average volume of 13,352,327. The firm has a 50-day simple moving average of $18.84 and a 200 day simple moving average of $16.94. The firm has a market capitalization of $26.08 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.95 and a beta of 0.97. HP has a 1-year low of $12.54 and a 1-year high of $23.93.

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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