HP Inc. (HPQ) Updates FY17 Earnings Guidance

HP Inc. (NYSE:HPQ) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.59-1.66 for the period, compared to the Thomson Reuters consensus estimate of $1.62. HP also updated its Q3 guidance to $0.40-0.43 EPS.

Shares of HP Inc. (HPQ) opened at 17.35 on Friday. The firm’s 50-day moving average price is $18.68 and its 200 day moving average price is $16.92. HP Inc. has a 52 week low of $11.48 and a 52 week high of $19.58. The company has a market cap of $29.21 billion, a P/E ratio of 12.27 and a beta of 1.76.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. HP’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, equities analysts predict that HP Inc. will post $1.63 EPS for the current fiscal year.

Earnings History and Estimates for HP (NYSE:HPQ)

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.06%. HP’s dividend payout ratio (DPR) is presently 37.32%.

A number of equities research analysts recently commented on HPQ shares. Barclays PLC increased their price target on HP from $15.00 to $17.00 and gave the stock an equal weight rating in a research report on Thursday, February 23rd. Mizuho increased their price target on HP from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Thursday, February 23rd. BMO Capital Markets increased their price target on HP to $17.00 in a research report on Thursday, February 23rd. Maxim Group increased their price objective on HP from $15.00 to $16.00 and gave the company a hold rating in a research report on Thursday, February 23rd. Finally, Jefferies Group LLC increased their price objective on HP from $16.00 to $16.50 and gave the company a hold rating in a research report on Thursday, February 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.08.

In other news, CFO Catherine A. Lesjak sold 67,997 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $19.00, for a total value of $1,291,943.00. Following the completion of the transaction, the chief financial officer now owns 67,997 shares in the company, valued at approximately $1,291,943. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,015,159 shares of company stock valued at $18,142,136. Corporate insiders own 0.62% of the company’s stock.

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About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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