HP Inc (NYSE:HPQ) price on Thursday, November 14, fall -0.87% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $36.49.
A look at the stock’s price movement, the close in the last trading session was $36.81, moving within a range at $36.47 and $37.1. The beta value (5-Year monthly) was 1.087 while the PE ratio in trailing twelve months stood at 12.80. Turning to its 52-week performance, $39.52 and $27.42 were the 52-week high and 52-week low respectively. Overall, HPQ moved -1.86% over the past month.
HP Inc’s market cap currently stands at around $35.17 billion, with investors looking forward to this quarter’s earnings report slated for in December. The company has a Forward Dividend ratio of 1.10, with its dividend yield at 3.02%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 14.01B for the company’s revenue for the quarter, with a low and high estimate of 13.61B and 14.26B respectively. The average forecast suggests up to a 1.39% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 53.5B, representing a -0.41% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HPQ is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 7 analyst(s) rate the stock as a Hold, 6 recommend HPQ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HPQ’s current price about -0.54% and 1.62% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.31, while 7-day volatility ratio is 2.44% and 2.32% in the 30-day chart. Further, HP Inc (HPQ) has a beta value of 1.07, and an average true range (ATR) of 0.86. Analysts have given the company’s stock an average 52-week price target of $33, forecast between a low of $27 and high of $40. Looking at the price targets, the low is 26.01% off current price level while to achieve the yearly target high, price needs to move -9.62%. Nonetheless, investors will most likely welcome a 9.56% jump to $33 which is the analysts’ median price.
If we refocus on HP Inc (NYSE:HPQ), historical trading data shows that trading volumes averaged 7.0 over the past 10 days and 7.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 989.00 million shares.
The 0.24% of HP Inc’s shares are in the hands of company insiders while institutional holders own 82.63% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 44.66 million on 2024-10-31, giving us a short ratio of 7.43. The data shows that as of 2024-10-31 short interest in HP Inc (HPQ) stood at 529.0 of shares outstanding, with shares short falling to 45.31 million registered in 2024-09-30. Current price change has pushed the stock 21.27% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HPQ stock continues to rise going into the next quarter.
