FY2023 Earnings Estimate for HP Inc. (NYSE:HPQ) Issued By Zacks Research

HP Inc. (NYSE:HPQ) – Research analysts at Zacks Research decreased their FY2023 EPS estimates for shares of HP in a research note issued on Tuesday, September 12th. Zacks Research analyst A. Ganguly now anticipates that the computer maker will post earnings per share of $3.28 for the year, down from their prior estimate of $3.30. The consensus estimate for HP’s current full-year earnings is $3.31 per share. Zacks Research also issued estimates for HP’s Q4 2023 earnings at $0.90 EPS, Q1 2024 earnings at $0.83 EPS, Q2 2024 earnings at $0.81 EPS, Q3 2024 earnings at $0.85 EPS, Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.34 EPS, Q1 2025 earnings at $0.86 EPS, Q3 2025 earnings at $0.89 EPS and FY2025 earnings at $3.57 EPS.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. HP had a negative return on equity of 114.62% and a net margin of 4.23%. The company had revenue of $13.20 billion for the quarter, compared to analysts’ expectations of $13.38 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year.

Other analysts have also recently issued research reports about the company. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. UBS Group boosted their target price on HP from $30.00 to $31.00 in a report on Wednesday, May 31st. Bank of America lowered their target price on HP from $27.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, August 30th. Barclays decreased their price target on shares of HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 30th. Finally, Citigroup cut their price target on HP from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.73.

HP Stock Down 2.1 %

Shares of HPQ stock opened at $28.33 on Wednesday. HP has a fifty-two week low of $24.08 and a fifty-two week high of $33.90. The stock has a market capitalization of $27.93 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.22 and a beta of 1.02. The stock has a 50-day simple moving average of $31.64 and a 200 day simple moving average of $30.31.

Hedge Funds Weigh In On HP

A number of large investors have recently bought and sold shares of the company. Certified Advisory Corp bought a new stake in HP during the 1st quarter worth about $26,000. Exchange Traded Concepts LLC lifted its position in HP by 83.2% during the second quarter. Exchange Traded Concepts LLC now owns 914 shares of the computer maker’s stock worth $28,000 after purchasing an additional 415 shares during the period. GHP Investment Advisors Inc. acquired a new stake in HP in the first quarter valued at approximately $29,000. Motco increased its position in HP by 84.4% in the 2nd quarter. Motco now owns 1,038 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 475 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of HP in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

Insiders Place Their Bets

In other HP news, Director Subra Suresh sold 6,659 shares of HP stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $33.00, for a total transaction of $219,747.00. Following the transaction, the director now directly owns 59,533 shares in the company, valued at $1,964,589. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other HP news, Director Subra Suresh sold 6,659 shares of the stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $33.00, for a total transaction of $219,747.00. Following the completion of the transaction, the director now owns 59,533 shares in the company, valued at approximately $1,964,589. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Enrique Lores sold 156,976 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $30.69, for a total value of $4,817,593.44. Following the transaction, the chief executive officer now owns 766,268 shares of the company’s stock, valued at approximately $23,516,764.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,030,824 shares of company stock worth $116,034,788. Corporate insiders own 0.32% of the company’s stock.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 annualized dividend and a yield of 3.71%. HP’s dividend payout ratio is presently 45.26%.

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.