HP (NYSE:HPQ) Sets New 1-Year Low - What's Next?

HP Inc. (NYSE:HPQ - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.59 and last traded at $22.71, with a volume of 4908498 shares traded. The stock had previously closed at $22.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. StockNews.com cut shares of HP from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Loop Capital lowered their target price on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, HP has a consensus rating of "Hold" and an average target price of $36.14.

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HP Price Performance

The firm has a market capitalization of $22.08 billion, a P/E ratio of 8.34, a PEG ratio of 2.96 and a beta of 1.09. The firm's 50 day moving average is $29.45 and its two-hundred day moving average is $33.13.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.2894 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.94%. HP's dividend payout ratio is 41.37%.

Insider Transactions at HP

In related news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of HP

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in HP during the 4th quarter worth $229,320,000. KBC Group NV increased its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after acquiring an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in HP in the 4th quarter worth about $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in HP in the 4th quarter valued at about $63,612,000. Finally, Northern Trust Corp grew its position in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after purchasing an additional 1,755,942 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

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.