HP (NYSE:HPQ) Updates Q1 Earnings Guidance

HP (NYSE:HPQ) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.70-0.76 for the period, compared to the consensus estimate of $0.85. HP also updated its FY25 guidance to $3.45-3.75 EPS.

HP Price Performance

Shares of NYSE:HPQ traded down $0.20 during trading on Tuesday, hitting $39.10. The company’s stock had a trading volume of 11,599,928 shares, compared to its average volume of 7,759,184. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.62 and a beta of 1.07. HP has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a 50-day moving average of $36.47 and a 200-day moving average of $35.46.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, research analysts anticipate that HP will post 3.39 earnings per share for the current year.

HP declared that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. Barclays reduced their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Friday, September 27th. Finally, Morgan Stanley reduced their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $35.45.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.