HP (HPQ) to Release Quarterly Earnings on Tuesday

HP (NYSE:HPQ - Get Free Report) will issue its quarterly earnings data 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 are interested in participating in the company's conference call can do so using this link.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $13.37 billion. During the same period in the previous year, the company earned $0.86 EPS. HP's revenue for the quarter 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 Price Performance

Shares of HP stock traded down $0.56 during trading hours on Tuesday, reaching $36.87. The company's stock had a trading volume of 4,664,929 shares, compared to its average volume of 7,738,904. The firm has a 50 day moving average price of $36.03 and a 200-day moving average price of $35.15. The stock has a market cap of $35.53 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.51 and a beta of 1.07. HP has a one year low of $27.42 and a one year high of $39.52.

HP announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company's stock, valued at $99.48. This trade 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 available through this link. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HPQ shares. UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Morgan Stanley cut 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 report on Thursday, August 29th. Bank of America 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 Friday, September 27th. Loop Capital reduced their price target on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Finally, Citigroup downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, HP has an average rating of "Hold" and a consensus price target of $35.55.

HP Company Profile

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.