Jefferies Financial Group Comments on HP Inc.’s FY2022 Earnings (NYSE:HPQ)

HP Inc. (NYSE:HPQGet Rating) – Equities research analysts at Jefferies Financial Group lifted their FY2022 earnings per share (EPS) estimates for HP in a report released on Wednesday, June 1st. Jefferies Financial Group analyst K. Mcnealy now forecasts that the computer maker will earn $4.30 per share for the year, up from their prior forecast of $4.25. Jefferies Financial Group also issued estimates for HP’s Q4 2022 earnings at $1.07 EPS, Q2 2023 earnings at $1.10 EPS, Q3 2023 earnings at $1.13 EPS, Q4 2023 earnings at $1.12 EPS, FY2023 earnings at $4.40 EPS and Q1 2024 earnings at $1.16 EPS.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.19 billion. During the same period last year, the business posted $0.93 EPS. The business’s revenue was up 3.9% compared to the same quarter last year.

HPQ has been the topic of a number of other reports. Morgan Stanley downgraded HP from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $34.00 to $31.00 in a report on Thursday, March 31st. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th. Citigroup boosted their target price on HP from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group downgraded HP from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Friday, April 8th. Finally, Barclays boosted their target price on HP from $29.00 to $32.00 and gave the stock an “underweight” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.29.

Shares of NYSE:HPQ opened at $39.89 on Friday. HP has a 12-month low of $26.11 and a 12-month high of $41.47. The business’s fifty day simple moving average is $37.51 and its 200-day simple moving average is $36.80. The company has a market capitalization of $42.02 billion, a PE ratio of 7.17, a P/E/G ratio of 2.36 and a beta of 0.92.

Several institutional investors have recently made changes to their positions in the business. Ironwood Wealth Management LLC. grew its position in shares of HP by 117.9% in the second quarter. Ironwood Wealth Management LLC. now owns 2,674 shares of the computer maker’s stock valued at $81,000 after purchasing an additional 1,447 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of HP in the third quarter valued at approximately $228,000. Macquarie Group Ltd. grew its position in shares of HP by 3.6% in the third quarter. Macquarie Group Ltd. now owns 933,128 shares of the computer maker’s stock valued at $25,531,000 after purchasing an additional 32,347 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of HP in the third quarter valued at approximately $287,000. Finally, Gamco Investors INC. ET AL grew its position in HP by 4.8% in the third quarter. Gamco Investors INC. ET AL now owns 36,299 shares of the computer maker’s stock worth $993,000 after acquiring an additional 1,650 shares during the period. 81.94% of the stock is owned by institutional investors and hedge funds.

In other HP news, CFO Marie Myers sold 4,500 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $36.62, for a total transaction of $164,790.00. Following the completion of the transaction, the chief financial officer now owns 33,219 shares of the company’s stock, valued at $1,216,479.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce D. Broussard bought 6,810 shares of HP stock in a transaction on Thursday, March 31st. The shares were purchased at an average cost of $36.67 per share, with a total value of $249,722.70. The disclosure for this purchase can be found here. Insiders sold a total of 59,138 shares of company stock valued at $2,152,908 in the last ninety days. 0.22% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. HP’s payout ratio is 17.99%.

HP Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for HP (NYSE:HPQ)

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