HP (NYSE:HPQ) Issues FY 2022 Earnings Guidance

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

HP stock traded up $0.09 during mid-day trading on Tuesday, hitting $38.84. The company’s stock had a trading volume of 26,712,218 shares, compared to its average volume of 13,661,016. The firm has a market capitalization of $40.91 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. HP has a 1 year low of $26.11 and a 1 year high of $41.47. The stock’s fifty day moving average is $37.42 and its two-hundred day moving average is $36.70.

HP (NYSE:HPQGet Rating) last issued its quarterly earnings data on Monday, February 28th. The computer maker reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. HP had a negative return on equity of 164.36% and a net margin of 10.05%. The company had revenue of $17.03 billion during the quarter, compared to analyst estimates of $16.52 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts predict that HP will post 4.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. HP’s dividend payout ratio is currently 17.86%.

HPQ has been the topic of a number of analyst reports. StockNews.com upgraded HP from a hold rating to a buy rating in a research note on Wednesday, May 4th. Evercore ISI restated a buy rating and issued a $42.00 price target on shares of HP in a research note on Friday, February 25th. Morgan Stanley cut HP from an equal weight rating to an underweight rating and cut their target price for the stock from $34.00 to $31.00 in a research report on Thursday, March 31st. Citigroup cut HP from a buy rating to a neutral rating and cut their target price for the stock from $40.00 to $38.00 in a research report on Monday, May 23rd. Finally, Barclays cut their target price on HP from $30.00 to $29.00 and set an underweight rating on the stock in a research report on Thursday, March 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $36.29.

In other HP news, insider Alex Cho sold 53,874 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $35.11, for a total value of $1,891,516.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce D. Broussard acquired 6,810 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was 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. Over the last ninety days, insiders have sold 117,512 shares of company stock valued at $4,207,909. 0.22% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ironwood Wealth Management LLC. increased its stake 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 during the period. Segall Bryant & Hamill LLC bought a new position in shares of HP in the fourth quarter valued at approximately $254,000. First Western Trust Bank bought a new position in shares of HP in the first quarter valued at approximately $234,000. Paradigm Financial Partners LLC bought a new position in shares of HP in the fourth quarter valued at approximately $232,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of HP in the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

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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Earnings History and Estimates for HP (NYSE:HPQ)

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