HP (NYSE:HPQ) Issues FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HPQ. JPMorgan Chase & Co. raised their price objective on shares of HP from $38.00 to $42.00 and gave the stock an overweight rating in a report on Friday, August 23rd. Citigroup lifted their target price on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a report on Thursday, May 30th. Morgan Stanley cut shares of HP from an overweight rating to an equal weight rating and set a $37.00 target price on the stock. in a report on Monday, August 19th. UBS Group lifted their target price on shares of HP from $31.00 to $34.00 and gave the company a neutral rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company lifted their target price on shares of HP from $25.00 to $30.00 and gave the company an underweight rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $35.00.

HP Stock Performance

HPQ traded down $0.84 during trading on Wednesday, hitting $34.76. The stock had a trading volume of 12,058,123 shares, compared to its average volume of 7,795,827. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The firm has a market capitalization of $34.01 billion, a P/E ratio of 11.80, a PEG ratio of 2.24 and a beta of 1.09. The company’s 50-day moving average price is $35.56 and its 200 day moving average price is $32.29.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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 company earned $0.86 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that HP will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared 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 is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.17%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Insider Transactions at HP

In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.