HP (NYSE:HPQ) Updates Q4 2024 Earnings Guidance

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

HP Trading Up 2.0 %

Shares of HP stock opened at $36.18 on Friday. The company has a fifty day moving average price of $35.48 and a 200 day moving average price of $32.38. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The stock has a market cap of $35.40 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly 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). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that HP will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. HP’s dividend payout ratio is presently 37.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent analyst reports. UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a neutral rating in a research note on Thursday. Barclays dropped their price target on shares of HP from $33.00 to $32.00 and set an equal weight rating for the company in a research note on Thursday. Bank of America raised their price objective on shares of HP from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, May 30th. Citigroup upped their target price on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lifted their price target on HP from $25.00 to $30.00 and gave the stock an underweight rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $35.60.

Insider Activity

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction 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 of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.