HP Inc (NYSE:HPQ) shares, rose in value on Friday, April 05, with the stock price down by -1.23% to the previous day’s close as strong demand from buyers drove the stock to $29.27.
Actively observing the price movement in the recent trading, the stock is buoying the session at $29.64. The value of beta (5-year monthly) is 1.06 whereas the PE ratio is 8.55 over 12-month period. Referring to stock’s 52-week performance, its high was $33.90, and the low was $25.22. On the whole, HPQ has fluctuated by -3.16% over the past month.
With the market capitalization of HP Inc currently standing at about $28.65 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 28, 2024 – Jun 03, 2024. The company’s Forward Dividend Ratio is 1.08, with its dividend yield at 3.68%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.81, which is expected to increase to $0.91 for fiscal year $3.43 and then to about $3.63 by fiscal year 2025. Data indicates that the EPS growth is expected to be 4.60% in 2025, while the next year’s EPS growth is forecast to be 5.80%.
Analysts have estimated the company’s revenue for the quarter at $12.59 billion, with a low estimate of $12.46 billion and a high estimate of $12.76 billion.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that HPQ’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 25% Sell.
The stock’s technical analysis shows that the PEG ratio is about 2.85, with the price of HPQ currently trading nearly -2.98% and -0.39% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.63, while the 7-day volatility ratio is showing 2.01% which for the 30-day chart, stands at 1.89%. Furthermore, HP Inc (HPQ)’s beta value is 1.06, and its average true range (ATR) is 0.58.
A comparison of HP Inc (HPQ) with its peers suggests the former has fared considerably weaker in the market. HPQ showed an intraday change of -1.23% in today’s session so far, and over the past year, it shrunk by -0.93%%.
Data on historical trading for HP Inc (NYSE:HPQ) indicates that the trading volumes over the past 10 days have averaged 6.22 million and over the past 3 months, they’ve averaged 8.39 million. According to company’s latest data on outstanding shares, there are 989.00 million shares outstanding.
Nearly 0.21% of HP Inc’s shares belong to company insiders and institutional investors own 79.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.28 million shares as on Mar 15, 2024, resulting in a short ratio of 1.69. According to the data, the short interest in HP Inc (HPQ) stood at 1.77% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.43 million. The stock has fallen by -2.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HPQ stock heading into the next quarter.
