HP (NYSE:HPQ) Issues Q4 2024 Earnings Guidance

HP (NYSE:HPQ) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.890-0.990 for the period, compared to the consensus EPS estimate of 0.950. The company issued revenue guidance of -. HP also updated its FY 2024 guidance to 3.350-3.450 EPS.

HP Stock Up 5.4 %

HPQ traded up $1.87 on Thursday, reaching $36.63. The company’s stock had a trading volume of 4,949,215 shares, compared to its average volume of 7,778,877. The company has a market capitalization of $35.84 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 2.24 and a beta of 1.09. HP has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The stock has a 50 day moving average of $35.53 and a two-hundred day moving average of $32.34.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts anticipate that HP will post 3.45 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.01%. HP’s payout ratio is 37.16%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HPQ shares. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the stock a neutral rating in a research report on Thursday. Bank of America lifted their target price on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a report on Thursday, May 30th. TD Cowen increased their price target on shares of HP from $30.00 to $32.00 and gave the stock a hold rating in a report on Thursday, May 30th. Barclays lowered their price objective on HP from $33.00 to $32.00 and set an equal weight rating on the stock in a report on Thursday. Finally, Citigroup upped their price objective on HP from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, HP currently has an average rating of Hold and an average target price of $35.09.

Insider Buying and Selling

In other news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.