In the last trading session, approximately 9.97 million shares of HP Inc (NYSE:HPQ) were traded, with the company’s beta touching 1.06. The per share price of HPQ stood at $26.43, experiencing a 1.34% increase during the session. The market valuation of the company is currently $26.12 billion.
HPQ’s stock price is currently at a discount, trading around -28.26% below its 52-week high of $33.90. However, it has seen an increase of 8.89% since its 52-week low of $24.08. The average trading volume of HP Inc is approximately 9.7 million shares over a 10-day period, with a 3-month average of 7.21 million shares.
According to analysts, the consensus recommendation rating for HP Inc is a Hold, with a mean rating of 2.89. Out of the 18 analysts, 2 rate the stock as a Sell, 1 assigns it an Overweight rating, 11 recommend it as a Hold, 4 as a Buy, and none rate it as Underweight. The company’s estimated earnings per share for the current quarter is $0.9.
In terms of performance, HPQ’s stock has shown a positive trend recently. Over the past five days, it has experienced a 1.15% increase. The stock reached weekly highs of $26.60 on October 10, 2023, adding 1.34% to its daily price. Year-to-date, HP Inc’s stock has seen a downside of -1.64%, but over a 30-day period, it is down by -10.59%.
Short interest data shows that 17.62 million shares of HP Inc were sold with a short interest cover period of 2.12 days.
Wall Street analysts have assigned a consensus price target of $30.12 for HPQ, which represents an upside of 12.25% from its current market value. The projected low and high price targets for the stock are $23.00 and $39.00, respectively. To reach the forecast high, the stock would need to experience a -47.56% drop, while to hit the projected low, it would need to decrease by 12.98%.
Analysts have observed that HP Inc’s share is not performing as well as most of its peers in the industry. Over the past 6 months, the company’s share value has decreased by -11.72%, with an annual growth rate of -19.12%, which is lower than the industry average of -7.60%. However, analysts have higher expectations for HPQ’s revenue estimates in fiscal year 2023, with a projected rise of 5.90% for the current quarter and 14.70% growth for the next quarter. Year-over-year growth is forecasted to reach -14.60% compared to the previous financial year.
Consensus estimates from 11 financial analysts suggest that HP Inc’s revenue for the current quarter will reach an average of $13.81 billion. For the quarter ending in January 2024, analysts predict revenue of $13.96 billion. In the corresponding quarters of the previous year, the company’s revenue was $14.8 billion. Analysts forecast a growth in current quarter sales of -6.70%.
Looking at the company’s year-on-year earnings, data shows a 15.05% growth rate over the past 5 years. However, for 2023, analysts expect a decrease in earnings of -19.12%. The outlook for the next 5-year period is a decrease of -1.69% per year.
HP Inc is anticipated to release its next quarterly earnings report between November 20 and November 24. The stock has an annual dividend yield of 4.26%, which translates to an annual dividend of 1.13. Investors should consider various aspects of the company’s operations and fundamentals before making any investment decisions.
Insiders hold 0.20% of HP Inc shares, while institutional holders have 80.21% ownership. The share float percentage is currently at 80.37%. Berkshire Hathaway, Inc is the top institutional holder, owning 12.24% of the shares, worth approximately $3.71 billion. Vanguard Group Inc holds the second-largest percentage of outstanding shares at 10.59%, valued at $3.21 billion.
The top two mutual fund holders of HP Inc shares as of June 29, 2023, were Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. Dodge & Cox Stock Fund controlled 2.92% of outstanding shares, with 28.83 million shares estimated at $885.37 million. Vanguard Total Stock Market Index Fund held about 2.81% of shares, equivalent to approximately 27.75 million shares valued at around $852.24 million.
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