Does HP Inc.’s (NYSE:HPQ) Current Price Make It Worth Investing In?

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During the recent session, HP Inc. (NYSE:HPQ)’s traded shares were 2.27 million, with the beta value of the company hitting 1.01. At the last check today, the stock’s price was $29.70, reflecting an intraday gain of 1.64% or $0.48. The 52-week high for the HPQ share is $36.00, that puts it down -21.21 from that peak though still a striking 41.92% gain since the share price plummeted to a 52-week low of $17.25. The company’s market capitalization is $35.32B, and the average intraday trading volume over the past 10 days was 12.69 million shares, and the average trade volume was 9.57 million shares over the past three months.

HP Inc. (HPQ) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.60. HPQ has a Sell rating from 2 analyst(s) out of 20 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 2 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.84.

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HP Inc. (HPQ) registered a 1.64% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.64% in intraday trading to $29.70 this Wednesday, 09/01/21, hitting a weekly high. The stock’s 5-day price performance is -0.58%, and it has moved by -1.05% in 30 days. Based on these gigs, the overall price performance for the year is 51.71%. The short interest in HP Inc. (NYSE:HPQ) is 36.78 million shares and it means that shorts have 4.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $32.22, which implies an increase of 7.82% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $22.00 and $40.00 respectively. As a result, HPQ is trading at a discount of -34.68% off the target high and 25.93% off the low.

HP Inc. (HPQ) estimates and forecasts

Statistics show that HP Inc. has underperformed its competitors in share price, compared to the industry in which it operates. HP Inc. (HPQ) shares have gone up 4.10% during the last six months, with a year-to-date growth rate less than the industry average at 63.60% against 68.40. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 71.40% this quarter and then jump 43.50% in the quarter after that. In the rating firms’ projections, revenue will increase 10.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $15.92 billion as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $15.44 billion by the end of Oct 2021.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -0.20%. While earnings are projected to return -0.70% in 2021, the next five years will return 16.52% per annum.

HPQ Dividends

HP Inc. is due to release its next quarterly earnings between November 22 and November 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for HP Inc. is 0.78, with the dividend yield indicating at 2.67 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.97%.

HP Inc. (NYSE:HPQ)’s Major holders

HP Inc. insiders own 0.16% of total outstanding shares while institutional holders control 80.86%, with the float percentage being 80.98%. Dodge & Cox Inc is the largest shareholder of the company, while 1,387 institutions own stock in it. As of Jun 29, 2021, the company held over 118.23 million shares (or 9.84% of all shares), a total value of $3.57 billion in shares.

The next largest institutional holding, with 115.51 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.62% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $3.49 billion.

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Also, the Mutual Funds coming in first place with the largest holdings of HP Inc. (HPQ) shares are Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2021 indicates that Dodge & Cox Stock Fund owns about 76.78 million shares. This amounts to just over 6.39 percent of the company’s overall shares, with a $2.44 billion market value. The same data shows that the other fund manager holds slightly less at 35.15 million, or about 2.93% of the stock, which is worth about $1.12 billion.