HP (NYSE:HPQ) Issues 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.

Analyst Ratings Changes

HPQ has been the topic of a number of research analyst reports. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Morgan Stanley lowered their price objective 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. Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.45.

HP Stock Down 0.6 %

Shares of HP stock traded down $0.22 during midday trading on Tuesday, hitting $39.08. The company’s stock had a trading volume of 11,786,351 shares, compared to its average volume of 7,759,184. HP has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a market capitalization of $37.66 billion, a P/E ratio of 13.79, a PEG ratio of 2.62 and a beta of 1.07. The stock has a 50-day simple moving average of $36.47 and a 200-day simple moving average of $35.46.

HP (NYSE:HPQ) last announced 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 business 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 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, sell-side analysts predict that HP will post 3.39 earnings per share for the current year.

HP announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.