HP (NYSE:HPQ) Updates Q1 Earnings Guidance

HP (NYSE:HPQ) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.70-0.76 for the period, compared to the consensus estimate of $0.85. HP also updated its FY25 guidance to $3.45-3.75 EPS.

Analysts Set New Price Targets

Several research firms have recently commented on HPQ. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Barclays dropped their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, UBS Group increased their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.45.

HP Stock Down 0.5 %

Shares of HPQ stock traded down $0.20 on Tuesday, reaching $39.10. 11,599,928 shares of the stock were exchanged, compared to its average volume of 7,759,184. The stock has a market cap of $37.68 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 2.62 and a beta of 1.07. The firm has a 50 day moving average of $36.47 and a two-hundred day moving average of $35.46. HP has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, equities research analysts predict that HP will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.