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Here's Every Rating And Price Target So Far On HP Inc After Q4 Earnings

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Here's Every Rating And Price Target So Far On HP Inc After Q4 Earnings

HP Inc (NYSE: HPQ) reported fiscal year 2016 fourth-quarter results Tuesday after the market close.

The company reported fourth-quarter non-GAAP earnings of $0.36 per share on revenues of $12.5 billion. The bottom line was in line, while the top line exceeded expectations. For 2017, the company estimates non-GAAP earnings of $1.55–$1.66 per share and for the first quarter, earnings are expected at $0.35–$0.38 per share.

Voices From The Street

Here is what the Street has to say about HP's quarterly results:

Credit Suisse: Outperform, $19 Price Target

Credit Suisse believes the company's solid franchise and multi-faceted strategy can help offset secular pressures in end markets. The firm commended the company for its strong performance in PCs as well as significantly better than expected free cash flow.

With inexpensive valuation and significant cash return, the firm maintains its Outperform rating and $19 price target on the shares of the company. The firm also upwardly revised its 2017 earnings per share estimate to $1.60 from $1.55 and introduced its 2018 earnings per share estimate of $1.60.

Barclays: Equal Weight, $15 Price Target

Barclays Sees Mixed Signals from HP. The decent results but soft outlook led Barclays to expect the shares of HP to come under pressure in the near term. Barclays noted that the company's personal systems performance continued to be a bright spot. This, the firm, believes could be a positive lateral read-through for PC or consumer-related stocks, including Western Digital Corp (NASDAQ: WDC) and Seagate Technology PLC (NASDAQ: STX).

Meanwhile, the firm believes the softer earnings per share guidance for the January quarter was due to disappointing printing trend-lines. The firm maintains its Equal-Weight rating and a $15 price target.

Citi: Neutral, $17 Price Target

Citi sifts for the positives and negatives from the print:

    Positives:
  • Better-than-expected fourth-quarter revenues.
  • PC operating margins.
  • Share gains in printing despite printing revenues falling.
  • Higher printing hardware units.
  • $558 million in free cash flow.
  • Reiteration of guidance.
  • Negatives:

  • Below-consensus first-quarter non-GAAP earnings per share guidance.
  • Decline in printing sales.
  • Decline in printing operating margins.
  • Flat gross margin.

Citi has a Neutral rating on the shares of the company, but it raised its price target to $17 from $16.

At last check, HP was down 7.05 percent at $14.82.

Latest Ratings for HPQ

DateFirmActionFromTo
May 2019MaintainsEqual-Weight
Apr 2019Initiates Coverage OnNeutral
Feb 2019MaintainsMarket PerformMarket Perform

View More Analyst Ratings for HPQ
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings Long Ideas News Guidance Price Target Reiteration Analyst Ratings Best of Benzinga

 

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