HP (NYSE:HPQ) Updates 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 $4.02-$4.12 for the period, compared to the consensus EPS estimate of $4.30. The company issued revenue guidance of -. HP also updated its Q4 2022 guidance to $0.79-$0.89 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HPQ. Credit Suisse Group cut their price objective on shares of HP from $39.00 to $33.00 and set an outperform rating on the stock in a research note on Wednesday, August 31st. Evercore ISI cut their price target on HP to $33.00 in a report on Tuesday, September 6th. Morgan Stanley lowered their price target on HP from $30.00 to $28.00 and set an underweight rating on the stock in a research report on Wednesday, August 31st. Barclays decreased their target price on HP from $32.00 to $27.00 and set an underweight rating on the stock in a report on Wednesday, August 31st. Finally, UBS Group cut their price target on HP from $40.00 to $32.00 and set a neutral rating on the stock in a research note on Wednesday, August 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $30.79.

HP Stock Down 2.2 %

NYSE:HPQ traded down $0.57 during trading hours on Friday, hitting $25.14. 160,818 shares of the company’s stock traded hands, compared to its average volume of 12,884,104. The business’s fifty day simple moving average is $31.18 and its two-hundred day simple moving average is $34.46. HP has a 52 week low of $25.69 and a 52 week high of $41.47. The firm has a market cap of $25.29 billion, a P/E ratio of 4.42, a P/E/G ratio of 2.33 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last posted its earnings results on Tuesday, August 30th. The computer maker reported $1.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.04. The firm had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. On average, analysts expect that HP will post 4.08 EPS for the current year.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares in the company, valued at approximately $18,007,834.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the transaction, the chief executive officer now owns 551,204 shares in the company, valued at $18,007,834.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the transaction, the chief financial officer now owns 13,500 shares of the company’s stock, valued at approximately $446,175. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,000 shares of company stock worth $1,406,520. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. KCM Investment Advisors LLC grew its position in shares of HP by 4.4% during the first quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock valued at $347,000 after purchasing an additional 400 shares in the last quarter. Linscomb & Williams Inc. lifted its holdings in shares of HP by 8.9% in the 1st quarter. Linscomb & Williams Inc. now owns 7,688 shares of the computer maker’s stock valued at $279,000 after acquiring an additional 631 shares during the last quarter. Certified Advisory Corp bought a new position in shares of HP in the 1st quarter valued at about $26,000. Industrial Alliance Investment Management Inc. lifted its holdings in shares of HP by 11.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 8,067 shares of the computer maker’s stock valued at $293,000 after acquiring an additional 855 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of HP by 2.1% in the 1st quarter. Cresset Asset Management LLC now owns 42,602 shares of the computer maker’s stock valued at $1,557,000 after acquiring an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 81.17% 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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