Zacks: Analysts Anticipate HP Inc. (NYSE:HPQ) Will Announce Quarterly Sales of $15.67 Billion

Brokerages expect HP Inc. (NYSE:HPQ) to report sales of $15.67 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for HP’s earnings, with estimates ranging from $15.60 billion to $15.75 billion. HP posted sales of $14.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 26th.

On average, analysts expect that HP will report full-year sales of $63.32 billion for the current year, with estimates ranging from $62.25 billion to $64.51 billion. For the next financial year, analysts forecast that the company will report sales of $62.84 billion, with estimates ranging from $59.98 billion to $64.70 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for HP.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 26th. The computer maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. HP had a net margin of 6.05% and a negative return on equity of 143.70%. The firm had revenue of $15.88 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis.

HPQ has been the topic of a number of recent research reports. Cowen lifted their price target on shares of HP from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, May 28th. Citigroup upgraded shares of HP from a “neutral” rating to a “buy” rating in a report on Monday, May 24th. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price target on shares of HP in a report on Tuesday, April 20th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, May 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $40.00 in a report on Monday, May 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.00.

HP stock traded up $0.27 during mid-day trading on Friday, reaching $29.47. The company had a trading volume of 6,269,455 shares, compared to its average volume of 10,099,977. HP has a fifty-two week low of $15.98 and a fifty-two week high of $36.00. The firm has a market cap of $35.40 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.01 and a beta of 1.02. The company has a fifty day moving average of $32.00.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 9th will be paid a $0.194 dividend. This is an increase from HP’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 2.63%. The ex-dividend date is Tuesday, June 8th. HP’s payout ratio is 34.21%.

A number of institutional investors and hedge funds have recently bought and sold shares of HPQ. Childress Capital Advisors LLC bought a new stake in shares of HP during the fourth quarter worth about $25,000. Meridian Wealth Partners LLC bought a new stake in shares of HP during the first quarter worth about $26,000. Albion Financial Group UT bought a new stake in shares of HP during the fourth quarter worth about $28,000. Ironwood Wealth Management LLC. bought a new stake in shares of HP during the fourth quarter worth about $30,000. Finally, Clearview Wealth Advisors LLC increased its position in shares of HP by 176.3% during the first quarter. Clearview Wealth Advisors LLC now owns 931 shares of the computer maker’s stock worth $30,000 after acquiring an additional 594 shares in the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.

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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