Shares in HP Inc. (HPQ) Slump After Announcing Recent News

HP Inc. (HPQ), a Computer Hardware organization, was a bullish stock in the prior market session. HP Inc. (HPQ) stock opened the day for trading at $15.50 and closed the day at $14.87 with declining move of -3.57%. The decrease change in HP Inc. (HPQ) lagged the change in the DOW for the day which lossed -1.89% in prior market session.

HP Inc. (HPQ) is focused on the Computer Hardware sector. This stock market sector has seen some movement from day traders in recent trading sessions. Bullish day traders of HP Inc. (HPQ) will be looking for positive upcoming earnings whereas bearish day traders of HP Inc. (HPQ) will be looking for negative earnings. The last time HP Inc. (HPQ) had an earnings surprise was on Qtr Ending 01/20 when they reported $0.65 compared to an estimate of $0.54 which was a difference of $+0.11 resulting in a change of +20.37%. Current earnings estimates are to be released for Current Qtr 04/2020 on HP Inc. (HPQ) and out of 3 Wall Street estimates the average is saying $0.45. The high estimate is saying $0.48 whereas the low estimate is saying $0.39 and the prior year HP Inc. (HPQ) announced earnings at $0.53 a growth rate est. (year over year) of -15.09%.

The market performance of HP Inc. (HPQ) has varied recently. Year to date HP Inc. (HPQ)’s shares are down -24.96%. Over the past 12 weeks HP Inc. (HPQ) is down -31.07% and over the last 4 weeks HP Inc. (HPQ) is down -0.77%. HP Inc. (HPQ) current income statement shows revenue (ttm) of $58.66B. Gross Profit is $11.17B. This puts the current EBITDA of HP Inc. (HPQ) at $5.21B.

Wall street day traders might also notice recent changes to stock analyst estimates for HP Inc. (HPQ). The stock is trading with an RSI (relative strength index) of 46.00 indicating HP Inc. (HPQ) is neither overbought nor oversold. Technically, HPQ’s short term support levels are around $14.51, $13.98 and $13.01 on the downside. HPQs short term resistance levels are $23.50, $22.70 and $22.24 on the upside. The market cap of HP Inc. (HPQ) is $21.261B and institutions hold 83.23% of the stock. The outstanding share count stands at 1.45B while the short float (shares short) stands at 1.36%.

Market research indicates that these earning estimate changes look to be directly correlated with short-term stock prices. The day traders can look to capitalize on the basis of ranking. Based on technical analysis, HPQ has short term rating of Neutral (-0.19), Intermediate rating of Neutral (0.02) and the long-term rating of Neutral (-0.01) giving it an overall rating of Neutral (-0.06).

The EPS growth this year on HP Inc. (HPQ) is increased 15.10% and is expected to increase 18.11% next year. However, quarterly earnings (EPS) growth year over year on HP Inc. (HPQ) has decreased by -6.90% and quarterly revenue (Sales) growth year over year stands at -0.60%. Gross margin is detected at 19.50% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 5.20% while return on equity (ttm) is -222.40%.

Recent Developments:

2020-04-14 – HP Inc Launched Print, Play & Learn.
2020-04-13 – IDC Says Traditional PC Shipments Saw Sharp Decline In Q1.
2020-03-31 – Xerox Drops Bid To Acquire HP.
2020-03-31 – Xerox To End Hostile Takeover Bid For HP – WSJ.
2020-03-25 – Hp Inc On M&A Says “It’s Abundantly Clear That Now Is Not That Time”.

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