HP (NYSE:HPQ) Releases Q4 2024 Earnings Guidance

HP (NYSE:HPQ) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.890-0.990 for the period, compared to the consensus earnings per share estimate of 0.950. The company issued revenue guidance of -. HP also updated its FY 2024 guidance to 3.350-3.450 EPS.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. TD Cowen raised their target price on shares of HP from $30.00 to $32.00 and gave the company a hold rating in a research note on Thursday, May 30th. Barclays cut their price objective on HP from $33.00 to $32.00 and set an equal weight rating for the company in a research report on Thursday. UBS Group boosted their target price on HP from $34.00 to $37.00 and gave the stock a neutral rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the company an overweight rating in a report on Friday, August 23rd. Finally, Bank of America upped their price objective on HP from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, HP presently has a consensus rating of Hold and an average target price of $35.09.

HP Stock Performance

NYSE:HPQ opened at $35.73 on Friday. The firm has a market capitalization of $34.96 billion, a PE ratio of 11.98, a PEG ratio of 2.24 and a beta of 1.09. The stock’s fifty day moving average is $35.49 and its 200 day moving average is $32.36. HP has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.60% and a negative return on equity of 230.39%. The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that HP will post 3.45 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.09%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.