HP (NYSE:HPQ) Releases Q4 Earnings Guidance

HP (NYSE:HPQ) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.89-0.99 for the period, compared to the consensus estimate of $0.95.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HPQ. Citigroup boosted their price objective on HP from $35.00 to $37.00 and gave the company a buy rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upped their price target on HP from $38.00 to $42.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. Barclays upped their price target on HP from $30.00 to $33.00 and gave the stock an equal weight rating in a research note on Thursday, May 30th. Morgan Stanley downgraded HP from an overweight rating to an equal weight rating and set a $37.00 price target for the company. in a research note on Monday, August 19th. Finally, UBS Group upped their price target on HP from $31.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, HP presently has an average rating of Hold and a consensus target price of $35.00.

HP Trading Down 2.4 %

NYSE:HPQ traded down $0.84 during midday trading on Wednesday, hitting $34.76. 11,921,956 shares of the company traded hands, compared to its average volume of 7,795,007. The firm’s fifty day moving average is $35.56 and its 200-day moving average is $32.29. HP has a 12-month low of $25.22 and a 12-month high of $39.52. The firm has a market capitalization of $34.01 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. HP’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts expect that HP will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued 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 yield of 3.17%. HP’s payout ratio is presently 37.16%.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the company’s 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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.

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.