Inc (NYSE: HPQ),
anticipating that personal computer demand will pick up after a two-year slump,
with projected profit for the fiscal year beginning in November in line with
excluding some items, will be $3.25 a share to $3.65 a share for the 2024
fiscal year, the company said Tuesday in a statement. Analysts, on average,
estimated $3.47 a share. Free cash flow in the fiscal year will be $3.1 billion
to $3.6 billion, compared with an average projection of $3.17 billion.
The slowdown may be coming to an end. Gartner Inc. analysts said Monday
that PC shipments “bottomed out” in the period ending in September and they
anticipate a rebound beginning in current quarter.
“HP is very well positioned to deliver long-term sustainable growth,”
Chief Executive Officer Enrique Lores said in the statement. “We are innovating
to meet the changing needs of our customers and we see attractive opportunities
to drive profitable growth across our business.”
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
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. The Printing segment provides consumer and
commercial printer hardware, supplies, media, solutions, and services, as well
as scanning devices; and laserJet and enterprise, inkjet and printing,
graphics, and 3D printing solutions.
was formerly known as Hewlett-Packard Company and changed its name to HP Inc.
in October 2015. HP Inc. was founded in 1939 and is headquartered in Palo Alto,
Further Catalysts for the HPQ Weekly Options Trade…..
such as HP, Lenovo and Dell Technologies have seen demand ease from peaks hit
during the pandemic, when work-from-home trends drove up sales of laptops and
other electronic devices.
Palo Alto, California-based HP were up more than 2% in trading after the bell
yesterday. They have fallen roughly 2% so far this year.
Future Ready plan is strengthening our core business, accelerating our
expansion in services, building new operational capabilities, and improving our
structural costs," said HP CEO Enrique Lores.
has approved an increase to the planned dividend amount to $1.10 per share,
reflecting a 5% increase from the prior dividend, the company said.
According to the issued ratings of 8 analysts in the last
year, the consensus rating for HP stock is Hold based on the current 1 sell
rating, 5 hold ratings and 2 buy ratings for HPQ. The average twelve-month
price prediction for HP is $30.45 with a high price target of $39.00 and a low
price target of $23.00.
HP has a
1-year low of $24.08 and a 1-year high of $33.90. The business’s fifty day
moving average price is $29.56 and its two-hundred day moving average price is
$30.10. The company has a market capitalization of $25.60 billion, a P/E ratio
of 11.16, and a PEG ratio of 2.24 and a beta of 1.04.