HP (NYSE:HPQ) Issues Q3 2024 Earnings Guidance

HP (NYSE:HPQGet Free Report) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.780-0.920 for the period, compared to the consensus EPS estimate of 0.850. The company issued revenue guidance of -. HP also updated its FY 2024 guidance to 3.300-3.600 EPS.

HP Trading Up 9.1 %

NYSE:HPQ opened at $35.77 on Thursday. HP has a 12-month low of $25.22 and a 12-month high of $36.32. The firm has a market cap of $35.08 billion, a P/E ratio of 9.60, a PEG ratio of 2.48 and a beta of 1.06. The stock’s 50 day simple moving average is $29.70 and its 200-day simple moving average is $29.48.

HP (NYSE:HPQGet Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts forecast that HP will post 3.42 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.2756 per share. The ex-dividend date is Wednesday, June 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.08%. HP’s payout ratio is 32.16%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays upgraded HP from an underweight rating to an equal weight rating and upped their price objective for the company from $24.00 to $30.00 in a research report on Tuesday, May 21st. Bank of America upped their price objective on HP from $32.00 to $35.00 and gave the company a buy rating in a research report on Thursday, May 16th. Morgan Stanley upped their target price on HP from $36.00 to $37.00 and gave the company an overweight rating in a research note on Thursday. StockNews.com lowered HP from a strong-buy rating to a buy rating in a research note on Friday, March 1st. Finally, HSBC upgraded HP from a hold rating to a buy rating and upped their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, HP currently has a consensus rating of Moderate Buy and a consensus price target of $34.00.

Get Our Latest Analysis on HP

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock valued at $3,479,287 in the last quarter. Insiders own 0.41% of the company’s stock.

About HP

(Get Free Report)

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.

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Earnings History and Estimates for HP (NYSE:HPQ)

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