HP (NYSE:HPQ) Issues FY20 Earnings Guidance

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HP (NYSE:HPQ) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $2.24-$2.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.23. HP also updated its FY 2020
After-Hours guidance to $2.24-2.32 EPS.

A number of brokerages have issued reports on HPQ. Sanford C. Bernstein cut shares of HP from an outperform rating to a market perform rating and set a $20.00 target price on the stock. in a report on Monday, September 9th. Evercore ISI upgraded shares of HP from an in-line rating to an outperform rating and set a $24.00 price target on the stock in a research note on Monday, November 11th. Loop Capital lowered shares of HP from a buy rating to a hold rating and dropped their price target for the company from $21.00 to $19.00 in a research note on Friday, October 4th. UBS Group lowered shares of HP from a buy rating to a neutral rating and dropped their price target for the company from $26.00 to $20.00 in a research note on Monday, September 16th. Finally, Credit Suisse Group lowered their price objective on shares of HP from $21.00 to $18.00 and set a neutral rating on the stock in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. HP presently has a consensus rating of Hold and an average target price of $19.91.

Shares of NYSE:HPQ traded up $0.41 during trading on Wednesday, reaching $20.04. 14,993,908 shares of the company traded hands, compared to its average volume of 11,667,179. The firm has a market cap of $29.76 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 4.09 and a beta of 1.43. HP has a 1-year low of $15.93 and a 1-year high of $24.09. The firm has a fifty day simple moving average of $18.70 and a 200 day simple moving average of $19.28.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. HP had a net margin of 5.36% and a negative return on equity of 241.43%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.29 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, research analysts anticipate that HP will post 2.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.176 per share. This is an increase from HP’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.70 annualized dividend and a dividend yield of 3.51%. HP’s payout ratio is presently 28.57%.

In other news, insider Christoph Schell sold 60,121 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $20.17, for a total transaction of $1,212,640.57. Following the transaction, the insider now owns 179,029 shares in the company, valued at approximately $3,611,014.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% 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.

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