HP (NYSE:HPQ) Releases Q4 Earnings Guidance

HP (NYSE:HPQ) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.89-0.99 for the period, compared to the consensus estimate of $0.95. HP also updated its FY 2024 guidance to 3.350-3.450 EPS.

Analysts Set New Price Targets

A number of research firms have commented on HPQ. JPMorgan Chase & Co. boosted their target price on HP from $38.00 to $42.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on HP from $25.00 to $30.00 and gave the company an underweight rating in a research note on Thursday, May 30th. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the stock a neutral rating in a research note on Thursday. TD Cowen upped their target price on HP from $30.00 to $32.00 and gave the stock a hold rating in a research report on Thursday, May 30th. Finally, Bank of America upped their target price on HP from $35.00 to $37.00 and gave the stock a buy rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has a consensus rating of Hold and a consensus price target of $35.09.

HP Stock Up 0.8 %

NYSE:HPQ traded up $0.27 during trading hours on Thursday, reaching $35.03. 1,745,548 shares of the stock were exchanged, compared to its average volume of 7,759,694. The firm has a 50 day simple moving average of $35.53 and a 200-day simple moving average of $32.34. HP has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market capitalization of $34.28 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.24 and a beta of 1.09.

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

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

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.