HP (NYSE:HPQ) Releases Q1 2022 Earnings Guidance

HP (NYSE:HPQ) updated its first quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.990-$1.050 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.940. The company issued revenue guidance of -.HP also updated its FY 2022 guidance to $4.070-$4.270 EPS.

A number of research analysts have recently commented on HPQ shares. Zacks Investment Research cut HP from a buy rating to a hold rating and set a $33.00 price target for the company. in a research note on Friday, November 5th. Jefferies Financial Group initiated coverage on HP in a research note on Monday, August 9th. They set a hold rating and a $31.00 price target on the stock. JPMorgan Chase & Co. downgraded HP to a hold rating and set a $30.00 price objective for the company. in a research note on Wednesday, October 6th. Bank of America lifted their target price on shares of HP from $29.00 to $33.00 and gave the stock an underperform rating in a research report on Wednesday. Finally, Morgan Stanley cut shares of HP from an overweight rating to an equal weight rating and set a $31.00 price target for the company. in a research report on Friday, August 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP currently has an average rating of Hold and a consensus target price of $32.77.

HPQ traded up $3.25 during trading on Thursday, reaching $35.44. 34,001,117 shares of the stock traded hands, compared to its average volume of 9,616,969. The stock’s 50-day moving average is $29.59 and its 200 day moving average is $29.66. HP has a 12 month low of $21.80 and a 12 month high of $36.21. The stock has a market capitalization of $40.85 billion, a PE ratio of 11.01, a P/E/G ratio of 0.61 and a beta of 1.03.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 23rd. The computer maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $16.68 billion for the quarter, compared to analyst estimates of $15.42 billion. HP had a negative return on equity of 137.22% and a net margin of 6.56%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. Equities research analysts anticipate that HP will post 3.74 EPS for the current fiscal year.

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

In other news, insider Christoph Schell sold 116,389 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $32.08, for a total value of $3,733,759.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harvey Anderson sold 7,811 shares of the stock in a transaction that occurred on 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 have sold a total of 237,973 shares of company stock worth $7,430,226 in the last quarter. 0.19% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in HP stock. Ironwood Wealth Management LLC. grew its stake in HP Inc. (NYSE:HPQ) by 117.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

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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