HP (NYSE:HPQ) Issues Q3 2022 Earnings Guidance

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

HPQ stock traded up $0.09 during trading on Tuesday, hitting $38.84. The company had a trading volume of 26,712,218 shares, compared to its average volume of 13,661,016. The firm has a market cap 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 firm has a 50-day moving average price of $37.42 and a 200-day moving average price of $36.70.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings results on Monday, February 28th. The computer maker reported $1.10 EPS 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 business had revenue of $17.03 billion for the quarter, compared to analyst estimates of $16.52 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that HP will post 4.25 EPS for the current year.

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

HPQ has been the subject of a number of research reports. Evercore ISI reaffirmed a buy rating and set a $42.00 price target on shares of HP in a research report on Friday, February 25th. Morgan Stanley cut shares of HP from an equal weight rating to an underweight rating and decreased their price target for the stock from $34.00 to $31.00 in a research report on Thursday, March 31st. StockNews.com raised shares of HP from a hold rating to a buy rating in a research report on Wednesday, May 4th. Barclays decreased their price target on shares of HP from $30.00 to $29.00 and set an underweight rating for the company in a research report on Thursday, March 31st. Finally, UBS Group cut shares of HP from a buy rating to a neutral rating and set a $40.00 price objective for the company. in a research report on Friday, April 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP currently has an average rating of Hold and a consensus target price of $36.29.

In related news, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $36.62, for a total transaction of $164,790.00. Following the sale, the chief financial officer now owns 33,219 shares of the company’s stock, valued at $1,216,479.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce D. Broussard purchased 6,810 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was bought at an average cost of $36.67 per share, for a total transaction of $249,722.70. The disclosure for this purchase can be found here. Insiders sold 117,512 shares of company stock valued at $4,207,909 over the last quarter. Insiders own 0.22% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Neuberger Berman Group LLC increased its holdings in shares of HP by 23.4% in the first quarter. Neuberger Berman Group LLC now owns 288,813 shares of the computer maker’s stock valued at $10,542,000 after buying an additional 54,676 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of HP by 17.1% in the first quarter. EP Wealth Advisors LLC now owns 19,695 shares of the computer maker’s stock valued at $715,000 after buying an additional 2,876 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of HP by 56.1% in the first quarter. Orion Portfolio Solutions LLC now owns 20,970 shares of the computer maker’s stock valued at $761,000 after buying an additional 7,539 shares in the last quarter. Linscomb & Williams Inc. grew its position in HP by 8.9% during the 1st quarter. Linscomb & Williams Inc. now owns 7,688 shares of the computer maker’s stock worth $279,000 after purchasing an additional 631 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in HP by 3.6% during the 1st quarter. Advisors Asset Management Inc. now owns 217,040 shares of the computer maker’s stock worth $7,879,000 after purchasing an additional 7,553 shares in the last quarter. 81.94% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for HP (NYSE:HPQ)

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