HP (NYSE:HPQ) Releases Q4 Earnings Guidance

HP (NYSE:HPQ) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.55-0.59 for the period, compared to the Thomson Reuters consensus estimate of $0.58. HP also updated its FY 2019 guidance to $2.18-2.22 EPS.

NYSE:HPQ traded down $1.11 during midday trading on Friday, reaching $17.83. The stock had a trading volume of 6,594,164 shares, compared to its average volume of 8,716,818. HP has a 1-year low of $18.06 and a 1-year high of $27.08. The firm’s fifty day simple moving average is $20.44 and its 200-day simple moving average is $20.35. The stock has a market capitalization of $28.48 billion, a P/E ratio of 8.82, a PEG ratio of 2.85 and a beta of 1.40.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 6.67% and a negative return on equity of 232.81%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, equities research analysts expect that HP will post 2.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 3.59%. HP’s dividend payout ratio is 31.68%.

Several research firms have issued reports on HPQ. Wolfe Research lowered shares of HP from an outperform rating to a peer perform rating and decreased their price target for the stock from $25.00 to $21.00 in a research report on Tuesday, May 14th. Wells Fargo & Co upgraded shares of HP to a market perform rating and decreased their price target for the stock from $23.00 to $20.00 in a research report on Friday. ValuEngine lowered shares of HP from a hold rating to a sell rating in a research report on Thursday, August 1st. Bank of America decreased their price target on shares of HP from $19.00 to $17.00 and set an underperform rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on shares of HP from $22.00 to $19.00 and set a neutral rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $22.19.

In other news, insider Claire Bramley sold 15,819 shares of HP stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $316,380.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kim M. Rivera sold 20,000 shares of HP stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $20.53, for a total transaction of $410,600.00. Following the sale, the insider now owns 105,899 shares in the company, valued at $2,174,106.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,635 shares of company stock worth $4,423,266. 0.25% of the stock is owned by company insiders.

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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