What to Expect When HP Reports After the Close

By Chris Lange Updated Mar 13, 10:18PM EDT · Published Aug 23, 12:05PM EDT

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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?

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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%.

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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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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.