HP Inc. (NYSE:HPQ) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Shareholders of record on Wednesday, December 13th will be paid a dividend of 0.1393 per share by the computer maker on Wednesday, January 3rd. This represents a $0.56 annualized dividend and a yield of 2.63%. This is a positive change from HP’s previous quarterly dividend of $0.13.
HP has decreased its dividend by an average of 3.6% annually over the last three years. HP has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 29.9%.
Shares of HP (HPQ) traded down $0.06 during trading hours on Tuesday, reaching $21.17. 4,921,900 shares of the company’s stock traded hands, compared to its average volume of 10,845,362. The company has a debt-to-equity ratio of -1.55, a current ratio of 0.97 and a quick ratio of 0.74. HP has a one year low of $14.40 and a one year high of $22.31. The firm has a market capitalization of $35,459.49, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 3.15 and a beta of 1.85.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. equities research analysts anticipate that HP will post 1.65 EPS for the current year.
In related news, insider Kim M. Rivera sold 41,761 shares of HP stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $21.28, for a total transaction of $888,674.08. Following the transaction, the insider now directly owns 84,799 shares of the company’s stock, valued at $1,804,522.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marie Myers sold 11,752 shares of HP stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $19.25, for a total value of $226,226.00. Following the transaction, the insider now directly owns 11,752 shares in the company, valued at $226,226. The disclosure for this sale can be found here. Insiders have sold 1,853,937 shares of company stock worth $37,905,548 over the last three months. Corporate insiders own 0.62% of the company’s stock.
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HPQ has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 target price on shares of HP in a research note on Wednesday, August 16th. Loop Capital increased their target price on HP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, October 13th. BMO Capital Markets reiterated a “hold” rating and set a $20.00 target price on shares of HP in a research note on Thursday, August 24th. Jefferies Group LLC increased their target price on HP from $18.00 to $18.75 and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, Citigroup Inc. increased their target price on HP from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.57.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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