HP (NYSE:HPQ) Updates Q4 Earnings Guidance

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

HPQ traded down $0.03 on Thursday, reaching $18.93. The company’s stock had a trading volume of 10,530,675 shares, compared to its average volume of 10,454,831. The stock has a 50 day moving average of $20.44 and a two-hundred day moving average of $20.35. The company has a market capitalization of $28.94 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 2.89 and a beta of 1.40. HP has a fifty-two week low of $18.06 and a fifty-two week high of $27.08.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $14.60 billion during the quarter, compared to the consensus estimate of $14.58 billion. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. On average, research analysts forecast that HP will post 2.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio is currently 31.68%.

A number of equities research analysts have weighed in on HPQ shares. Evercore ISI started coverage on HP in a research note on Wednesday, June 5th. They issued an outperform rating and a $23.00 price objective for the company. ValuEngine cut HP from a hold rating to a sell rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on HP from $22.00 to $23.00 and gave the company an equal weight rating in a research note on Friday, May 24th. Barclays started coverage on HP in a research note on Wednesday, August 7th. They issued an equal weight rating and a $21.00 price objective for the company. Finally, Citigroup cut HP from a buy rating to a neutral rating and reduced their price objective for the company from $25.00 to $21.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $23.74.

In other news, insider Claire Bramley sold 15,819 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $316,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shumeet Banerji sold 28,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $560,000.00. Following the completion of the transaction, the director now owns 31,311 shares of the company’s stock, valued at approximately $626,220. The disclosure for this sale can be found here. Insiders have sold 213,635 shares of company stock valued at $4,423,266 in the last 90 days. Company insiders own 0.25% of the company’s stock.

HP Company Profile

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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