Zacks: Analysts Expect HP Inc. (NYSE:HPQ) Will Post Quarterly Sales of $14.55 Billion

Analysts forecast that HP Inc. (NYSE:HPQ) will announce sales of $14.55 billion for the current fiscal quarter, Zacks reports. 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 would indicate a negative year over year growth rate of 5.6%. The business is expected to announce its next quarterly earnings results on Tuesday, November 24th.

On average, 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 year, analysts anticipate that the firm will report sales of $55.52 billion, with estimates ranging from $55.06 billion to $55.81 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover HP.

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

Several analysts have recently commented on HPQ shares. Loop Capital increased their target price on shares of HP from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 28th. BofA Securities increased their target price on shares of HP from $16.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, August 28th. Standpoint Research upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, September 8th. ValuEngine upgraded shares of HP from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 9th. Finally, Barclays increased their target price on shares of HP from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. HP has a consensus rating of “Hold” and a consensus target price of $19.03.

Shares of HPQ stock traded up $0.01 on Monday, hitting $19.00. The stock had a trading volume of 10,634,167 shares, compared to its average volume of 13,352,327. The business has a 50 day moving average of $18.84 and a 200 day moving average of $16.94. The stock has a market cap of $26.08 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 3.95 and a beta of 0.97. HP has a 12-month low of $12.54 and a 12-month high of $23.93.

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

Hedge funds have recently added to or reduced their stakes in the company. Farmers Trust Co. boosted its position in shares of HP by 4.3% in the second quarter. Farmers Trust Co. now owns 237,485 shares of the computer maker’s stock valued at $4,140,000 after acquiring an additional 9,756 shares during the period. J.W. Cole Advisors Inc. purchased a new position in HP during the 2nd quarter valued at $355,000. APG Asset Management N.V. increased its position in HP by 56.0% during the 1st quarter. APG Asset Management N.V. now owns 1,452,890 shares of the computer maker’s stock valued at $25,222,000 after purchasing an additional 521,490 shares during the period. Commonwealth Equity Services LLC increased its position in HP by 15.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 628,094 shares of the computer maker’s stock valued at $10,947,000 after purchasing an additional 83,722 shares during the period. Finally, DNB Asset Management AS increased its position in HP by 170.6% during the 2nd quarter. DNB Asset Management AS now owns 3,172,975 shares of the computer maker’s stock valued at $55,305,000 after purchasing an additional 2,000,285 shares during the period. Institutional investors 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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