HP revenue falls on weak PC sales, lower demand for services

For the current quarter, the company sees EPS of 92 cents to 98 cents, below consensus for $1 per share.

Out of 20 brokers covering Hewlett-Packard, 16 rate it a Buy, 12 indicate a Hold while 1 suggest a Sell.

The next potential catalyst for HP stock is the company’s financial analyst meeting on September 15.

TheStreet Ratings team rates HEWLETT-PACKARD CO as a Buy with a ratings score of B-. Of those thirty-one, nineteen have a Buy rating, eleven have a Hold rating and one has a Sell rating. BMO Capital increased their price target on HPQ from $35 to $38. Finally, Maxim Group started coverage on Hewlett-Packard Company in a research note on Tuesday, July 14th. The shares trade in a 52-week range of $27.21 to $41.10.

On a technical level the stock has a 50 Day Moving Average of 30.24. Meanwhile, Earningswhispers.com expects HP to report earnings per share of $0.86. During the same period in the previous year, the company earned $0.88 EPS. The Street has consensus estimates of $0.85 in earnings per share and $25.44 billion in revenue.

“HP delivered results in the third quarter that reflect very strong performance in our Enterprise Group and substantial progress in turning around Enterprise Services”, said HP Chairman, President, and CEO Meg Whitman in a statement. This represents a $0.70 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, September 4th. Zacks upgraded Hewlett-Packard Company from a “sell” rating to a “hold” rating in a research report on Wednesday.

Revenue decreased 8 per cent to $US25.3bn. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

In other news, EVP Tracy S. Keogh sold 213,522 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. (RCPT) at a price of $232.00 per share, net to the seller in cash, without interest and less required withholding taxes and subsequent merger of Strix Corporation with Receptos expired at 11:59 p.m. EDT on August 10, 2015. The disclosure for this sale can be found here.

Hewlett-Packard Company is a global supplier of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (NYSE:HPQ) and large enterprises, including customers in the authorities, health and education sectors. The Company offers IT industry’s broadest portfolios of products and services that bring infrastructure, software, and services through innovation to enable its customers to create value and solve business problems. The Organization designs its options to provide basis, in the areas of security, cloud, freedom and big data, by leveraging the breadth of its own offerings and the strengths and abilities of its individual business units.

Later this year, HP is due to split into two, separating its computer and printer business from its corporate hardware and services operations.