24/7 Wall St.

HP Inc. (NYSE: HPQ) saw its shares hit a post-split multiyear high after the company reported its most recent quarterly earnings on Wednesday. Analysts took the opportunity to adjust their targets on the tech giant. Although many have a middle-of-the-road type view on the stock, most analysts respected this earnings report and hiked their price targets.

24/7 Wall St. has included some of the key highlights from the earnings report, as well as what a few analysts are saying about the stock after the fact.

The company posted $0.38 in earnings per share (EPS) and $12.68 billion in revenue, beating on both the top and bottom lines. The consensus estimates from Thomson Reuters had called for $0.37 in EPS and revenue of $11.85 billion. The same period of last year reportedly had EPS of $0.36 and $12.25 billion in revenue.

In terms of its segments, HP reported:

• Personal Systems net revenue up 10% year over year (up 11% in constant currency) with a 3.8% operating margin. Commercial net revenue increased 7% and Consumer net revenue increased 15%. Total units were up 8% with Notebooks units up 12% and Desktops units flat.
• Printing net revenue down 3% year over year (down 2% in constant currency) with a 16.0% operating margin. Total hardware units were up 6% with Commercial hardware units up 2% and Consumer hardware units up 7%. Supplies net revenue was down 3% (down 2% in constant currency).

For guidance in the fiscal second quarter, HP expects to see EPS in the range of $0.37 to $0.40, which compares to the consensus estimates of $0.39 per share on $11.41 billion in revenue.

Some analysts weighed in on the stock:

• FBN Securities upgraded HP to Outperform from Sector Perform.
• RBC Capital Markets reiterated a Sector Perform rating.
• JPMorgan reiterated a Neutral rating but hiked its price target to $16 from $15.50.
• Jefferies raised its price target to $16.50.
• Maxim has a Hold rating but raised its price target to $16 from $15.
• BMO Capital Markets raised its price target to $17.
• Mizuho has a Neutral rating and raised its price target to $15 from $14.
• Barclays has a $17 price target.

Shares of HP were last seen up nearly 9% at $17.64 on Thursday, with a consensus analyst price target of $16.21 and a 52-week trading range of $9.95 to $17.74.