HP (NYSE:HPQ) Updates Q1 2022 Earnings Guidance

HP (NYSE:HPQ) issued an update on its first quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.990-$1.050 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.940. The company issued revenue guidance of -.HP also updated its FY 2022 guidance to $4.070-$4.270 EPS.

Shares of HPQ stock traded up $3.25 during trading hours on Thursday, hitting $35.44. 34,001,117 shares of the company’s stock were exchanged, compared to its average volume of 9,616,969. HP has a 12-month low of $21.80 and a 12-month high of $36.21. The company has a market capitalization of $40.85 billion, a PE ratio of 11.01, a PEG ratio of 0.61 and a beta of 1.03. The business’s 50 day simple moving average is $29.59 and its 200-day simple moving average is $29.66.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 23rd. The computer maker reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The firm had revenue of $16.68 billion for the quarter, compared to the consensus estimate of $15.42 billion. HP had a negative return on equity of 137.22% and a net margin of 6.56%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, sell-side analysts anticipate that HP will post 3.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 5th. Investors of record on Wednesday, December 8th will be issued a dividend of $0.25 per share. This is a positive change from HP’s previous quarterly dividend of $0.19. This represents a $1.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 7th. HP’s dividend payout ratio is currently 24.22%.

A number of research firms have issued reports on HPQ. Zacks Investment Research cut shares of HP from a buy rating to a hold rating and set a $33.00 price objective on the stock. in a research report on Friday, November 5th. TheStreet raised HP from a c+ rating to a b- rating in a research report on Tuesday, November 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on HP from $32.00 to $36.00 and gave the stock a hold rating in a report on Wednesday. Bank of America upped their target price on HP from $29.00 to $33.00 and gave the company an underperform rating in a report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of HP to a hold rating and set a $30.00 price target on the stock. in a report on Wednesday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $32.77.

In other HP news, insider Alex Cho sold 38,411 shares of HP stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $31.04, for a total value of $1,192,277.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $27.53, for a total transaction of $936,020.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,973 shares of company stock valued at $7,430,226. 0.19% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in HP stock. Ironwood Wealth Management LLC. boosted its holdings in HP Inc. (NYSE:HPQ) by 117.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,674 shares of the computer maker’s stock after buying an additional 1,447 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 at the end of the most recent quarter. Institutional investors and hedge funds own 80.06% 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.

Further Reading: How are dividend achievers different from dividend aristocrats?

Earnings History and Estimates for HP (NYSE:HPQ)

Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.