HP Inc. to Issue Quarterly Dividend of $0.29 (NYSE:HPQ)

HP Inc. (NYSE:HPQ) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Stockholders of record on Wednesday, September 10th will be paid a dividend of 0.2894 per share by the computer maker on Wednesday, October 1st. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Wednesday, September 10th.

HP has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.7%.

HP Trading Down 2.9%

HP stock opened at $24.83 on Thursday. The business’s 50 day simple moving average is $25.66 and its 200 day simple moving average is $30.03. HP has a 12 month low of $21.21 and a 12 month high of $39.80. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. As a group, equities research analysts forecast that HP will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup cut their price target on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Thursday, May 29th. Morgan Stanley cut their target price on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Wall Street Zen raised shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Evercore ISI reduced their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, KGI Securities started coverage on shares of HP in a research note on Thursday, May 29th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.54.

HP Company Profile

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.