HP Inc (HPQ) Releases Earnings Results, Beats Expectations By $0.03 EPS

HP Inc (HPQ) reported quarterly earnings results on Wednesday, Aug-24-2016. The company said it had a profit of $0.48 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.45. The company posted revenue of $11892.00 million in the period, compared to analysts expectations of $11491.65 million. The company’s revenue was down -3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.

Many Wall Street Analysts have commented on HP Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

HP Inc opened for trading at $14.43 and hit $14.65 on the upside on Tuesday, eventually ending the session at $14.57, with a gain of 1.39% or 0.2 points. The heightened volatility saw the trading volume jump to 1,40,73,417 shares. Company has a market cap of $24,924 M.

Investors should note that on Jul 20, 2016, HP Inc announced a cash dividend of $0.1240. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016. The payable date has been fixed on Oct 5, 2016.

In a different news, on Aug 16, 2016, Tracy S Keogh (Chief HR Officer) sold 100,000 shares at $14.50 per share price. According to the SEC, on Mar 21, 2016, Catherine A Lesjak (CFO) sold 324,310 shares at $11.96 per share price. On Dec 4, 2015, Rajiv Gupta (director) purchased 80,000 shares at $12.00 per share price, according to the Form-4 filing with the securities and exchange commission.

HP Inc. formerly Hewlett-Packard Company is a provider of products technologies software solutions and services to individual consumers small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems Printing the Enterprise Group Enterprise Services Software HP Financial Services and Corporate Investments. It offers personal computing and other access devices; imaging and printing related products and services; enterprise information technology (IT) infrastructure including enterprise server and storage technology networking products and solutions technology support and maintenance; multi-vendor customer services including technology consulting outsourcing and support services across infrastructure applications and business process domains and software products and solution including application testing and delivery software big data analytics information governance and IT Operations Management.

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