What to Expect When HP Reports After the Close
Since the company split in late 2015, HP has made solid gains, although it did take a dip first. The upcoming earnings report could set the stage for the company to continue pushing its multiyear highs.
HP Inc. (NYSE: HPQ) is scheduled to release its fiscal third-quarter financial results after the markets close on Wednesday. Since the company split in late 2015, HP has made solid gains, although it did take a dip first. This upcoming earnings report could set the stage for the company to continue pushing its multiyear highs.
The consensus estimates call for $0.42 in earnings per share (EPS) and $12.31 billion in revenue. In the same period of last year, HP posted EPS of $0.48 on $11.89 billion in revenue.
The firm previously released guidance for this quarter calling for EPS in the range of $0.40 to $0.43, which seems in line with what analysts expect.
The fiscal second-quarter was a big breakthrough for HP, as it marked the first time both Personal Systems and Print have grown in the same quarter since 2010. After what seemed like a slow summer, can HP continue to hit these metrics?
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At the rate that HP has grown this year, there doesn’t seem to be a reason why this company might stop. The stock has outperformed the U.S. broad markets, up 28% year to date. Over the past 52 weeks, the stock is up over 32%.
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A few analysts weighed in on HP ahead of the earnings report:
- Loop Capital initiated coverage with a Buy rating and a $23 price target.
- Stifel reiterated a Hold rating with a $14 price target.
- RBC has an Outperform rating with a $22 price target.
- Jefferies has a Hold rating with an $18.75 price target.
- Susquehanna has a Neutral rating with a $20 price target.
- Mizuho has a Buy rating with a $21 price target.
- Morgan Stanley has an Overweight rating with a $23 price target.
Shares of HP were last seen down 0.4% at $18.95, with a consensus analyst price target of $21.38 and a 52-week range of $13.55 to $19.58.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
