Trade Report: Today, Jefferies Group Downgrade HP Inc. (HPQ) to Hold

Today, Jefferies Group Downgrade HP Inc. (HPQ) to Hold

HP Inc. (NYSE:HPQ) was downgraded by equities research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other equities analysts have also issued reports on HPQ. Credit Suisse Group AG reaffirmed a “buy” rating and set a $19.00 price objective on shares of HP in a report on Friday, August 12th. Royal Bank Of Canada increased their target price on shares of HP from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Monday, August 22nd. RBC Capital Markets reiterated a “sector perform” rating and set a $14.00 target price (up previously from $12.00) on shares of HP in a research note on Monday, August 22nd. Citigroup Inc. increased their target price on shares of HP from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Finally, Mizuho reiterated a “neutral” rating and set a $12.00 target price on shares of HP in a research note on Thursday, August 25th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.73.

Shares of HP (NYSE:HPQ) opened at 14.87 on Wednesday. The firm’s 50-day moving average price is $14.98 and its 200 day moving average price is $14.00. HP has a 1-year low of $8.91 and a 1-year high of $16.19. The stock has a market capitalization of $25.44 billion, a price-to-earnings ratio of 7.92 and a beta of 1.53.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. Equities research analysts expect that HP will post $1.60 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.1327 per share. This is a positive change from HP’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, December 12th. This represents a $0.53 annualized dividend and a dividend yield of 3.57%. HP’s payout ratio is presently 35.21%.

In related news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now owns 213,582 shares in the company, valued at approximately $3,203,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marie Myers sold 10,269 shares of HP stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Several institutional investors have recently bought and sold shares of HPQ. Principal Financial Group Inc. raised its position in HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock valued at $80,022,000 after buying an additional 2,805,123 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock worth $181,420,000 after buying an additional 2,614,757 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock worth $442,517,000 after buying an additional 2,403,888 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of HP during the second quarter worth approximately $26,430,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of HP during the third quarter worth approximately $27,441,000. Institutional investors and hedge funds own 79.49% of the company’s stock.

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