HP (NYSE:HPQ) Updates FY 2022 Earnings Guidance

HP (NYSE:HPQGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.24-$4.38 for the period, compared to the consensus earnings per share estimate of $4.25. The company issued revenue guidance of -.HP also updated its Q3 2022 guidance to $1.03-$1.08 EPS.

A number of research analysts have recently commented on the company. StockNews.com lowered HP from a buy rating to a hold rating in a report on Friday. Barclays boosted their price objective on HP from $29.00 to $32.00 and gave the company an underweight rating in a research report on Wednesday, June 1st. UBS Group cut HP from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a research report on Friday, April 8th. Evercore ISI reiterated a buy rating and issued a $42.00 price target on shares of HP in a research report on Friday, February 25th. Finally, Morgan Stanley cut HP from an equal weight rating to an underweight rating and lowered their price target for the company from $34.00 to $31.00 in a research report on Thursday, March 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, HP currently has a consensus rating of Hold and an average price target of $37.29.

Shares of HPQ stock opened at $39.52 on Tuesday. The firm has a market capitalization of $41.63 billion, a P/E ratio of 7.11, a P/E/G ratio of 2.31 and a beta of 0.92. HP has a twelve month low of $26.11 and a twelve month high of $41.47. The stock’s fifty day simple moving average is $37.52 and its 200 day simple moving average is $37.00.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share for the quarter, topping 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 in the prior year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that HP will post 4.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Tuesday, June 7th. HP’s dividend payout ratio (DPR) is 17.99%.

In other HP news, Director Bruce D. Broussard bought 6,810 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The shares were bought at an average cost of $36.67 per share, with a total value of $249,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $39.91, for a total transaction of $179,595.00. Following the completion of the sale, the chief financial officer now owns 28,719 shares of the company’s stock, valued at $1,146,175.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,638 shares of company stock worth $2,332,503. Company insiders own 0.22% of the company’s stock.

A number of large investors have recently bought and sold shares of HPQ. Parametric Portfolio Associates LLC raised its position in shares of HP by 5.1% during the 4th quarter. Parametric Portfolio Associates LLC now owns 5,837,329 shares of the computer maker’s stock valued at $219,892,000 after buying an additional 283,186 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in HP by 29.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,320,240 shares of the computer maker’s stock worth $47,925,000 after acquiring an additional 301,500 shares in the last quarter. Eaton Vance Management grew its stake in HP by 83.2% in the 1st quarter. Eaton Vance Management now owns 929,787 shares of the computer maker’s stock worth $33,751,000 after acquiring an additional 422,318 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its stake in HP by 89.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock worth $31,698,000 after acquiring an additional 413,491 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in HP by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 512,364 shares of the computer maker’s stock worth $18,598,000 after acquiring an additional 1,311 shares in the last quarter. 81.94% of the stock is owned by institutional investors and hedge funds.

About HP (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.

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