HP (NYSE:HPQ) Releases FY22 Earnings Guidance

HP (NYSE:HPQ) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.07-4.27 for the period, compared to the Thomson Reuters consensus estimate of $4.08. HP also updated its FY 2022 guidance to $4.070-$4.270 EPS.

Several equities research analysts have weighed in on the company. Morgan Stanley cut HP from an overweight rating to an equal weight rating and set a $31.00 target price for the company. in a research note on Friday, August 27th. Zacks Investment Research cut HP from a buy rating to a hold rating and set a $33.00 target price for the company. in a research note on Friday, November 5th. Credit Suisse Group upped their target price on HP from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Thursday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on HP from $32.00 to $36.00 and gave the stock a hold rating in a research note on Wednesday. Finally, Bank of America upped their price target on shares of HP from $29.00 to $33.00 and gave the stock an underperform rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $32.77.

NYSE HPQ traded up $3.25 on Thursday, reaching $35.44. The company had a trading volume of 34,001,117 shares, compared to its average volume of 9,616,969. The firm has a market cap of $40.85 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.61 and a beta of 1.03. HP has a fifty-two week low of $21.80 and a fifty-two week high of $36.21. The business has a 50 day moving average of $29.59 and a two-hundred day moving average of $29.66.

HP (NYSE:HPQ) last posted its quarterly earnings data on Monday, November 22nd. The computer maker reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. The business had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $15.42 billion. HP had a negative return on equity of 137.22% and a net margin of 6.56%. HP’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts forecast that HP will post 3.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 5th. Investors of record on Wednesday, December 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.82%. This is an increase from HP’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, December 7th. HP’s dividend payout ratio is presently 24.22%.

In other HP news, insider Christoph Schell sold 116,389 shares of the stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $32.08, for a total transaction of $3,733,759.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harvey Anderson sold 7,811 shares of the stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $31.26, for a total value of $244,171.86. The disclosure for this sale can be found here. Insiders sold 237,973 shares of company stock valued at $7,430,226 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in HP stock. Ironwood Wealth Management LLC. lifted its stake in shares of HP Inc. (NYSE:HPQ) by 117.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,674 shares of the computer maker’s stock after purchasing an additional 1,447 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 80.06% of the company’s stock.

About HP

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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Earnings History and Estimates for HP (NYSE:HPQ)

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