HP (NYSE:HPQ) Releases FY 2024 Earnings Guidance

HP (NYSE:HPQGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.300-3.600 for the period, compared to the consensus estimate of 3.430. The company issued revenue guidance of -. HP also updated its FY24 guidance to $3.30-3.60 EPS.

HP Price Performance

HP stock opened at $35.77 on Thursday. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. HP has a 1 year low of $25.22 and a 1 year high of $36.32. The firm has a 50-day moving average of $29.70 and a two-hundred day moving average of $29.48.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Research analysts expect that HP will post 3.42 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 13th. Shareholders of record on Wednesday, June 12th will be given a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.10 annualized dividend and a yield of 3.08%. HP’s dividend payout ratio (DPR) is 32.16%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of HP from a strong-buy rating to a buy rating in a report on Friday, March 1st. Bank of America boosted their price target on shares of HP from $32.00 to $35.00 and gave the company a buy rating in a report on Thursday, May 16th. HSBC upgraded shares of HP from a hold rating to a buy rating and boosted their price target for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. Morgan Stanley boosted their price target on shares of HP from $36.00 to $37.00 and gave the company an overweight rating in a report on Thursday. Finally, Barclays upgraded shares of HP from an underweight rating to an equal weight rating and boosted their price objective for the stock from $24.00 to $30.00 in a research note on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $34.00.

Get Our Latest Stock Analysis on HP

Insider Buying and Selling at HP

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the sale, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is owned by corporate insiders.

HP Company Profile

(Get Free Report)

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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