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?
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%.
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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