Hewlett-Packard published third quarter results after the bell on Thursday that managed to beat expectations, even though the company’s lackluster legacy business saw sales decline. Enterprise services division sales dropped 11 per cent, while revenue at the enterprise group rose 2 per cent. For the full-year ending October, the company said it expected adjusted profit of $3.59-$3.65 per share, largely below the average analyst estimate of $3.64 per share.
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A number of equities analysts recently commented on HPQ shares.
Shares of Hewlett-Packard Company (NYSE:HPQ) opened at 27.74 on Wednesday.
Brokerage firm BMO Capital Maintains its rating on Hewlett-Packard(NYSE:HPQ). Finally, Wells Fargo & Co. reissued an outperform rating on shares of Hewlett-Packard Company in a report on Saturday, May 23rd.
Maxim Group initiated their coverage on the stock with Hold rating on July 14, and fixed their price target at $34. Monness Crespi & Hardt have set a target price of 40 United States dollars on its stock.
Shares of Hewlett-Packard fell as much as 4 per cent in extended trading. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Non-GAAP net loss for the second quarter of 2015 was $4.5 million, or ($0.05) per share. The stock was sold at an average price of $30.18, for a total transaction of $142,419.42. The disclosure for this sale can be found here.
Excluding separation costs, amortization expense and other one-time items, adjusted earnings for the quarter were $0.88 per share compared with $0.89 per share a year ago. Institutional Investors own 79% of Company shares. The stock has a 50 day moving average of $30.07 and a 200-day moving average of $32.72. The company has a market cap of $51.68B and a P/E ratio of 11.36. Hewlett-Packard Company has a 52 week low of $27.21 and a 52 week high of $41.10. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.176 per share. The ex-dividend date is Friday, September 4th. The Company offers IT industry’s most comprehensive portfolios of products and services which bring infrastructure, software, and services through initiation to empower its customers to generate value and solve business problems. The Company designs its solutions to provide foundation, in the areas of security, cloud, mobility and big data, by leveraging the breadth of its offerings and the strengths and capabilities of its individual business units.
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H-P’s split will create very different companies: a cash-generating PC-and-printer behemoth that racked up $US56 billion ($A76.3bn) in revenue its most recent fiscal year, and a $US55bn server, services and software company that Chief Executive Meg Whitman has portrayed as more likely to grow through acquisitions.
