HP (NYSE:HPQ) Updates Q4 2024 Earnings Guidance

HP (NYSE:HPQ) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.890-0.990 for the period, compared to the consensus earnings per share estimate of 0.950. The company issued revenue guidance of -. HP also updated its FY 2024 guidance to 3.350-3.450 EPS.

HP Price Performance

HPQ stock opened at $35.73 on Friday. HP has a 1 year low of $25.22 and a 1 year high of $39.52. The firm has a market capitalization of $34.96 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The business has a 50 day simple moving average of $35.49 and a 200-day simple moving average of $32.36.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS 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 firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the firm earned $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts expect that HP will post 3.45 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.09%. HP’s payout ratio is 37.16%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the company an underweight rating in a research report on Thursday, May 30th. Bank of America boosted their price objective on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a report on Thursday, May 30th. Barclays lowered their target price on shares of HP from $33.00 to $32.00 and set an equal weight rating for the company in a research note on Thursday. Citigroup boosted their price target on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $35.09.

Insider Transactions at HP

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