HP (HPQ) to Release Earnings on Tuesday

HP (NYSE:HPQ) is scheduled to be announcing its earnings results after the market closes on Tuesday, November 26th. Analysts expect the company to announce earnings of $0.93 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, analysts expect HP to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

HP Stock Up 1.9 %

HPQ opened at $37.43 on Tuesday. HP has a 52-week low of $27.42 and a 52-week high of $39.52. The company has a market cap of $36.07 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The firm’s 50-day moving average price is $36.03 and its 200-day moving average price is $35.15.

HP declared that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HPQ shares. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley dropped their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.55.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.41% 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.