HP (NYSE:HPQ) Issues Q3 2022 Earnings Guidance

HP (NYSE:HPQGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.03-$1.08 for the period, compared to the consensus estimate of $1.02. The company issued revenue guidance of -. HP also updated its FY 2022 guidance to $4.24-$4.38 EPS.

HPQ has been the topic of several research analyst reports. Evercore ISI restated a buy rating and set a $42.00 target price on shares of HP in a report on Friday, February 25th. Barclays raised their price objective on shares of HP from $29.00 to $32.00 and gave the company an underweight rating in a research report on Wednesday, June 1st. UBS Group lowered shares of HP from a buy rating to a neutral rating and set a $40.00 target price on the stock. in a research report on Friday, April 8th. Morgan Stanley cut shares of HP from an equal weight rating to an underweight rating and dropped their price objective for the stock from $34.00 to $31.00 in a research report on Thursday, March 31st. Finally, JPMorgan Chase & Co. lowered their target price on HP from $41.00 to $39.00 in a research note on Wednesday, May 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $36.92.

Shares of HP stock opened at $33.55 on Tuesday. The business has a fifty day simple moving average of $37.04 and a 200 day simple moving average of $36.99. The stock has a market cap of $34.70 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. HP has a 12 month low of $26.11 and a 12 month high of $41.47.

HP (NYSE:HPQGet Rating) last posted its earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. The company had revenue of $16.49 billion during the quarter, compared to analyst estimates of $16.19 billion. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. As a group, research analysts predict that HP will post 4.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 8th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 7th. This represents a $1.00 annualized dividend and a yield of 2.98%. HP’s dividend payout ratio (DPR) is presently 17.99%.

In related news, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $36.27, for a total value of $1,233,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marie Myers sold 20,638 shares of HP stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $36.58, for a total value of $754,938.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,857 shares of company stock worth $2,574,733. Insiders own 0.22% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Certified Advisory Corp bought a new stake in HP during the first quarter worth $26,000. Carroll Investors Inc bought a new stake in shares of HP in the 4th quarter valued at about $26,000. First Community Trust NA bought a new position in HP during the fourth quarter worth about $39,000. Zullo Investment Group Inc. acquired a new position in HP during the fourth quarter worth approximately $58,000. Finally, Covestor Ltd raised its stake in HP by 176.4% in the first quarter. Covestor Ltd now owns 1,730 shares of the computer maker’s stock valued at $63,000 after buying an additional 1,104 shares during the period. 81.94% of the stock is owned by institutional investors.

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.

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