HP Inc. (NYSE:HPQ) Expected to Post Quarterly Sales of $13.56 Billion

Equities research analysts expect HP Inc. (NYSE:HPQ) to announce sales of $13.56 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for HP’s earnings. The lowest sales estimate is $13.36 billion and the highest is $13.76 billion. HP reported sales of $14.60 billion in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The company is expected to announce its next quarterly earnings report on Thursday, August 27th.

On average, analysts expect that HP will report full-year sales of $54.79 billion for the current fiscal year, with estimates ranging from $54.51 billion to $55.19 billion. For the next fiscal year, analysts expect that the business will report sales of $54.76 billion, with estimates ranging from $54.27 billion to $55.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover HP.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $12.47 billion during the quarter, compared to analyst estimates of $12.78 billion. HP had a negative return on equity of 295.77% and a net margin of 5.27%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS.

A number of research firms have weighed in on HPQ. Credit Suisse Group raised HP to a “neutral” rating and reduced their target price for the company from $22.00 to $17.00 in a report on Tuesday, May 26th. Loop Capital reduced their target price on HP from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Cfra reduced their target price on HP from $20.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating and set a $16.00 target price for the company in a report on Friday, May 29th. Finally, Argus upgraded HP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.00.

In other news, CEO Enrique Lores bought 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $16.47 per share, for a total transaction of $222,345.00. Also, Director Robert R. Bennett bought 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average price of $16.47 per share, with a total value of $279,990.00. Insiders purchased a total of 80,500 shares of company stock valued at $1,249,835 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Blueshift Asset Management LLC lifted its position in HP by 33.2% in the fourth quarter. Blueshift Asset Management LLC now owns 112,660 shares of the computer maker’s stock valued at $2,315,000 after purchasing an additional 28,098 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in HP in the first quarter valued at approximately $269,000. Bank of New York Mellon Corp lifted its position in HP by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 18,736,426 shares of the computer maker’s stock valued at $385,033,000 after purchasing an additional 539,355 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in HP by 18.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 139,126 shares of the computer maker’s stock valued at $2,415,000 after purchasing an additional 21,974 shares during the last quarter. Finally, Eaton Vance Management lifted its position in HP by 5.6% in the first quarter. Eaton Vance Management now owns 206,130 shares of the computer maker’s stock valued at $3,578,000 after purchasing an additional 10,850 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

HPQ stock traded down $0.43 during mid-day trading on Monday, reaching $17.00. 11,761,700 shares of the company traded hands, compared to its average volume of 14,537,412. The company has a market capitalization of $24.32 billion, a P/E ratio of 8.41, a P/E/G ratio of 5.48 and a beta of 0.98. HP has a 52-week low of $12.54 and a 52-week high of $23.93. The company has a fifty day moving average price of $16.41 and a 200-day moving average price of $18.35.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a $0.1762 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.70 dividend on an annualized basis and a yield of 4.15%. HP’s payout ratio is 31.25%.

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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