HP (HPQ) Set to Announce Quarterly 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. Parties 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 for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm 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 earnings per share. The company’s quarterly 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 0.6 %

Shares of NYSE HPQ opened at $38.13 on Monday. The firm has a fifty day simple moving average of $36.36 and a 200 day simple moving average of $35.40. HP has a twelve month low of $27.42 and a twelve month high of $39.52. The company has a market capitalization of $36.75 billion, a PE ratio of 13.38, a P/E/G ratio of 2.61 and a beta of 1.07.

HP announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. lowered their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. 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. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.45.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 directly owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.