HP (NYSE:HPQ) Releases FY 2024 Earnings Guidance

HP (NYSE:HPQ) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.350-3.450 for the period, compared to the consensus earnings per share estimate of 3.450. The company issued revenue guidance of -. HP also updated its Q4 guidance to $0.89-0.99 EPS.

HP Price Performance

HPQ opened at $36.18 on Friday. The company has a market capitalization of $35.40 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The business has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $32.38. HP has a 1 year low of $25.22 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.86 earnings per share. Equities analysts anticipate that HP will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors 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 3.05%. HP’s dividend payout ratio is 37.16%.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research reports. Barclays decreased their price target on shares of HP from $33.00 to $32.00 and set an equal weight rating on the stock in a report on Thursday. Citigroup boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Morgan Stanley cut their price objective on HP from $37.00 to $36.00 and set an equal weight rating on the stock in a report on Thursday. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the stock a neutral rating in a report on Thursday. Finally, TD Cowen boosted their price target on HP from $30.00 to $32.00 and gave the stock a hold rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $35.60.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the company’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 transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

HP Company Profile

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.