HP (NYSE:HPQ – Get Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $1.03-$1.08 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of -.HP also updated its FY 2022 guidance to $4.24-$4.38 EPS.
Several brokerages have recently commented on HPQ. Citigroup lowered HP from a buy rating to a neutral rating and cut their price objective for the stock from $40.00 to $38.00 in a report on Monday, May 23rd. Barclays dropped their price objective on HP from $30.00 to $29.00 and set an underweight rating for the company in a research note on Thursday, March 31st. StockNews.com upgraded HP from a hold rating to a buy rating in a report on Wednesday, May 4th. Morgan Stanley downgraded HP from an equal weight rating to an underweight rating and decreased their target price for the company from $34.00 to $31.00 in a report on Thursday, March 31st. Finally, JPMorgan Chase & Co. decreased their price objective on HP from $41.00 to $39.00 in a report on Wednesday, May 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $36.29.
Shares of NYSE HPQ traded up $0.09 during trading on Tuesday, reaching $38.84. The company had a trading volume of 26,712,218 shares, compared to its average volume of 13,661,016. HP has a 12-month low of $26.11 and a 12-month high of $41.47. The stock has a market cap of $40.91 billion, a PE ratio of 7.00, a P/E/G ratio of 2.28 and a beta of 0.92. The business’s 50-day moving average is $37.42 and its 200 day moving average is $36.70.
If you’re looking for a hot new sector, watch this stock closely.
HP (NYSE:HPQ – Get Rating) last released its quarterly earnings data on Monday, February 28th. The computer maker reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. HP had a negative return on equity of 164.36% and a net margin of 10.05%. The company had revenue of $17.03 billion for the quarter, compared to analysts’ expectations of $16.52 billion. During the same period last year, the firm posted $0.92 earnings per share. HP’s revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that HP will post 4.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. HP’s dividend payout ratio (DPR) is presently 17.86%.
In other news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $36.33, for a total value of $163,485.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 53,874 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $35.11, for a total value of $1,891,516.14. The disclosure for this sale can be found here. Insiders sold 117,512 shares of company stock worth $4,207,909 over the last three months. Insiders own 0.22% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC raised its stake in shares of HP by 23.4% in the first quarter. Neuberger Berman Group LLC now owns 288,813 shares of the computer maker’s stock worth $10,542,000 after buying an additional 54,676 shares during the period. EP Wealth Advisors LLC raised its stake in HP by 17.1% during the 1st quarter. EP Wealth Advisors LLC now owns 19,695 shares of the computer maker’s stock valued at $715,000 after purchasing an additional 2,876 shares during the period. Orion Portfolio Solutions LLC raised its stake in HP by 56.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 20,970 shares of the computer maker’s stock valued at $761,000 after purchasing an additional 7,539 shares during the period. Linscomb & Williams Inc. raised its stake in HP by 8.9% during the 1st quarter. Linscomb & Williams Inc. now owns 7,688 shares of the computer maker’s stock valued at $279,000 after purchasing an additional 631 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in HP by 3.6% during the 1st quarter. Advisors Asset Management Inc. now owns 217,040 shares of the computer maker’s stock valued at $7,879,000 after purchasing an additional 7,553 shares during the period. 81.94% of the stock is currently owned by hedge funds and other institutional investors.
About HP (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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