HP

HP (HPQ) will likely report strong fiscal Q2 margins in the personal system and print divisions driven by its cost management actions, BofA Securities said in an earnings preview Thursday. BofA said it expects revenue of the personal computer division to be weak in the near term with a potential recovery in H2. The company’s print division will face revenue headwinds due to soft demand in China and a tough pricing environment amidst a weakening Yen, which favors HP’s competitors, according to the preview. The firm expects HP’s fiscal Q2 earnings per share to align with the mid-point of company guidance between $0.76 and $0.86 and street estimates of $0.81. BofA anticipates Q2 revenue of $12.5 billion for the quarter, below estimates of $12.6 billion, and raised its 2025 revenue outlook to $55 billion from $53 billion based on personal computer momentum into 2025. HP’s fiscal Q2 earnings are slated […]

HP (HPQ) maintained its free cash flow outlook for fiscal 2024 despite near-term weakness in the commercial personal computer market, BofA Securities said Thursday. Late Wednesday, the company said it continues to expect to generate free cash flow of $3.1 billion to $3.6 billion for fiscal 2024. HP reported fiscal Q1 non-GAAP earnings that matched market expectations, while its revenue fell short. “We believe that FCF is the most important metric,” BofA said in a Thursday note. The brokerage lowered its price objective on the HP stock to $32 from $33 while reiterating its buy rating, citing “an improving PC outlook, higher [net present value] print projects, cost controls, and improving FCF coming off trough levels in F23,” according to the note. The company’s shares were down 0.9% in recent trading.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $31 on a P/E of 8.6x, shifting to our CY 25 EPS view of $3.66, below peers on near-term growth headwinds. We cut our FY 24 EPS view to $3.40 from $3.44 and keep FY 25’s at $3.63. HPQ posted Q4 EPS of $0.81 vs. $0.75, in line with consensus. Sales fell 4% (5% cc), missing expectations, with declines in Personal Systems (PS; -4%) and Printing (-5%). Commercial and Consumer PS units were both up 10% and 2%, respectively, but down on a revenue basis due to lower average selling prices. Printing revenue declined as hardware demand slowed across both Consumer (-22%) and Commercial (-12%). This reflects challenging market conditions and aggressive pricing. Despite the soft first half, we see signs

The following is a summary of the HP Inc. (HPQ) Q1 2024 Earnings Call Transcript: Financial Performance: HP reported Q1 2024 revenue of $13.2 billion, a decrease of 4-5% in constant currency, with both Personal Systems and Print revenue seeing a decrease. Despite the revenue decline, HP delivered non-GAAP operating profit of $1.1 billion, an increase of 5%, and non-GAAP diluted net earnings per share increased 11% to $0.81. HP’s gross margin was at 21.9%, an increase due to improved commodity and logistics costs, yet still affected by competitive pricing. HP returned $775 million to shareholders, including $500 million in share repurchases and $275 million in dividends, and plans to continue active share repurchases for the rest of the year. Business Progress: HP has made advancements in key growth areas, including gaming, Orco solutions, and consumer subscriptions, with a company-wide AI strategy being successfully implemented. The company plans continues transitioning

Barclays analyst Tim Long maintains HP with a Underweight and raises the price target from $22 to $24.

HP Sees 2Q Adj EPS 76c-Adj EPS 86c.

HP Inc. Reports Fiscal 2024 First Quarter Results PALO ALTO, Calif, Feb. 28, 2024 (GLOBE NEWSWIRE) — HP (NYSE: HPQ) — First quarter GAAP diluted net earnings per share (“EPS”) of $0.62, within the previously provided outlook of $0.60 to $0.70 per share — First quarter non-GAAP diluted net EPS of $0.81, within the previously provided outlook of $0.76 to $0.86 per share — First quarter net revenue of $13.2 billion, down 4.4% from the prior-year period — First quarter net cash provided by operating activities of $121 million, free cash flow of $25 million — First quarter returned $0.8 billion to shareholders in the form of share repurchases and dividends HP Inc.’s fiscal 2024 first quarter financial performance Q1 FY24 Q1 FY23 Y/Y ——————————————- ——- GAAP net revenue ($B) $ 13.2 $ 13.8 (4.4)% GAAP operating margin 7.1% 5.4% 1.7 pts GAAP net earnings ($B) $ 0.6 $ 0.5

By Denny Jacob HP revenue declined at a lower rate for the third consecutive quarter, a sign the company believes points to market stabilization as it expects the PC market to grow in 2024. The computer and printer maker logged earnings of $622 million, or 62 cents a share, for the first quarter ended Jan. 31, up from $469 million, or 47 cents a share, a year earlier. Adjusted earnings were 81 cents a share, matching analysts’ estimates. Revenue declined 4.4%, to $13.19 billion, from $13.8 billion. Analysts polled by FactSet expected $13.56 billion. “We continue to see…a more stable but still volatile environment,” Chief Executive Enrique Lores said in an interview. Personal systems revenue declined 4%, to $8.81 billion, from a year earlier, while print revenue tumbled 5%, to $4.38 billion, during the same period. Lores noted that for PCs, the Palo Alto, Calif.-based company saw more pressure on

HP Posts Q1 Revenue $13.2B, vs. Street Est of $13.592B.

HP (HPQ) reported fiscal Q1 non-GAAP earnings late Wednesday of $0.81 per diluted share, up from $0.73 a year earlier. Analysts surveyed by Capital IQ expected $0.81. Revenue for the quarter ended Jan. 31 was $13.19 billion, down from $13.80 billion a year earlier. Analysts surveyed by Capital IQ expected $13.59 billion. The company said it expects fiscal Q2 non-GAAP EPS of $0.76 to $0.86. Analysts surveyed by Capital IQ expect $0.82. HP reaffirmed its fiscal year 2024 non-GAAP EPS guidance of $3.25 to $3.65. Analysts surveyed by Capital IQ expect $3.45. Shares of the company more than 4% in after-hours trading.

HP (NYSE:HPQ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/14/2024 15.87% HSBC $30 → $33 Upgrades Hold → Buy 12/12/2023 22.89% Morgan Stanley $31 → $35 Upgrades Equal-Weight → Overweight 12/11/2023 40.45% Evercore ISI Group $33 → $40 Upgrades In-Line → Outperform 11/20/2023 15.87% Evercore ISI Group → $33 Reiterates In-Line → In-Line 11/13/2023 15.87% Citigroup $31 → $33 Upgrades Neutral → Buy 11/07/2023 — Edward Jones Upgrades Hold → Buy 10/11/2023 8.85% Morgan Stanley $30 → $31 Maintains Equal-Weight 10/03/2023 15.87% B of A Securities → $33 Upgrades Underperform → Buy 08/30/2023 8.85% Citigroup $32 → $31 Maintains Neutral 08/30/2023 5.34% Deutsche Bank $32 → $30 Maintains Hold 08/30/2023 -19.24% Barclays $24 → $23 Maintains Underweight 08/30/2023 36.94% JP Morgan $40 → $39 Maintains Overweight 08/30/2023 5.34% Morgan Stanley $32 → $30 Maintains Equal-Weight 08/30/2023 -12.22% B of A Securities

Citigroup analyst Asiya Merchant upgrades HP (NYSE:HPQ) from Neutral to Buy and raises the price target from $31 to $33.