tiprankstipranks
Mixed Earnings Give HP a Small Boost
Market News

Mixed Earnings Give HP a Small Boost

Shares of HP (NYSE:HPQ) gained in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $0.75, which beat analysts’ consensus estimates of $0.74. Sales decreased by 18.8% year-over-year, with revenue hitting $13.83 billion. This missed analysts’ expectations of $14.17 billion.

Pick the best stocks and maximize your portfolio:

Looking forward, management now expects EPS for Q2 2023 to be in the range of $0.73 to $0.83. For Fiscal Year 2023, adjusted EPS and free cash flow are expected to range between $3.20 to $3.60 and $3 billion to $3.5 billion, respectively.

Overall, Wall Street has a Moderate Sell consensus rating on HPQ stock based on one Hold and two Sells assigned in the past three months. In addition, the average price target is $28 per share.

Disclosure

Related Articles
TheFlyHP Inc. exec Cho sells 40,287 common shares
TheFlyVoyager upgraded, HP downgraded: Wall Street’s top analyst calls
TheFlyVoyager rises after upgrade, Applied plunges after CRL: Morning Movers
Go Ad-Free with Our App