HP (NYSE:HPQ – Get Free Report) released its earnings results on Tuesday. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93, Briefing.com reports. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. HP updated its Q1 guidance to $0.70-0.76 EPS and its FY25 guidance to $3.45-3.75 EPS.
HP Price Performance
Shares of HPQ traded down $0.22 during trading hours on Tuesday, hitting $39.08. The company’s stock had a trading volume of 12,052,757 shares, compared to its average volume of 7,761,361. The business has a 50 day simple moving average of $36.47 and a two-hundred day simple moving average of $35.46. The company has a market cap of $37.66 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.62 and a beta of 1.07. HP has a 52-week low of $27.42 and a 52-week high of $39.79.
HP announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on HPQ
Insider Transactions at HP
In related news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on Thursday, September 12th. The shares were 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 $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.
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.
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