Market Update: Hewlett-Packard Company (NYSE:HPQ) – OpenText Completes Acquisitions of ANX and Certain Assets of HP Inc.

[PR Newswire] – WATERLOO, Ontario, May 2, 2016 /PRNewswire/ — OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM), today announced that it has completed its previously announced acquisition of ANX, as well as the closing of the acquisition of certain customer experience software assets of HP Inc. (HPQ) in the United States, with the integration of certain non-U.S. acquired assets and employees of HP Inc. to be completed in accordance with applicable law by the end of Fiscal 2016 Q4. OpenText enables the digital world, creating a better way for organizations to work with information, on premises or in the cloud. Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. Read more on this. HP Inc. (HPQ) , with a current market cap of $21.05B, started the session at $12.26. Looking at the stock, its one day range is $12.02 to $12.33 with the price of the stock fluctuating between $8.91 to $16.17 over the last 52 weeks. HPQ shares are currently priced at 7.72x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 10.23x forward p/e ratio. The company pays shareholders $0.50 per share annually in dividends, yielding 4.04%. According to a consensus of 23 analysts, the earnings estimate of $0.38 per share would be $0.49 worse than the year-ago quarter and a $0.02 sequential decrease. Investors should also note that the full-year EPS estimate of $1.59 is a $1.59 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.74 Billion. If reported, that would be a 53.87% decrease over the year-ago quarter. Recently, Wells Fargo downgraded HPQ from Outperform to Market Perform (Jan 7, 2016). Previously, FBN Securities Initiated HPQ at to Sector Perform. When considering if perhaps the stock is under or overvalued, the average price target is $13.55, which is 10.52% above where the stock opened this morning. See more in (NYSE:HPQ) Similar Articles: Market Update: Hewlett-Packard Company (NYSE:HPQ) – Investors Should Catch HP Before It Rebounds Market Update: Hewlett-Packard Company (NYSE:HPQ) – Hewlett-Packard Rises On Inline Results, Job Cuts (HPQ) Stock Update: Hewlett-Packard Company (NYSE:HPQ) – Should You Invest in Shares of HP or Hewlett Packard Enterprise?