HP (HPQ) Issues Q3 Earnings Guidance

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HP (NYSE:HPQ) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.53-0.56 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.55. HP also updated its FY 2019 guidance to $2.14-2.21 EPS.

Shares of NYSE HPQ traded down $0.01 during trading on Thursday, reaching $19.19. The stock had a trading volume of 14,646,800 shares, compared to its average volume of 11,411,852. HP has a fifty-two week low of $18.06 and a fifty-two week high of $27.08. The stock has a market capitalization of $29.81 billion, a PE ratio of 9.50, a PEG ratio of 3.22 and a beta of 1.38.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, May 23rd. The computer maker reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The business had revenue of $14.04 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, analysts expect that HP will post 2.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be paid a $0.1602 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.34%. HP’s payout ratio is presently 31.68%.

HPQ has been the subject of a number of research reports. BMO Capital Markets reaffirmed a hold rating and issued a $22.00 price objective on shares of HP in a research note on Wednesday, February 27th. Bank of America cut HP from a buy rating to an underperform rating and set a $19.00 price objective for the company. in a research note on Thursday, February 28th. ValuEngine cut HP from a hold rating to a sell rating in a research note on Thursday, February 28th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of HP in a research note on Thursday, February 28th. Finally, Zacks Investment Research raised HP from a sell rating to a hold rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. HP presently has an average rating of Hold and an average target price of $25.71.

In related news, CEO Dion J. Weisler sold 36,799 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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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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