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HP Stock Rallies, Outperforms Market
22 Jul
Summary
- HPQ stock price increased by 2.44% on the last trading day.
- The company anticipates a 12% fall in EPS year-over-year.
- HP's forward P/E ratio is significantly lower than its industry average.
HP (HPQ) demonstrated strong performance in its most recent trading session, closing at $24.81 with a gain of 2.44%. This daily increase surpassed the performance of the broader S&P 500, which rose by 0.89%. Over the past month, HP's stock has climbed by 2.89%, outperforming its sector. However, upcoming earnings reports are anticipated to show a 12% decrease in EPS compared to the same quarter last year, although revenue is projected to increase by 4.82%.
For the full fiscal year, projections indicate earnings per share of $2.98 and revenue of $58.26 billion. Analysts' recent estimate revisions, a key indicator for stock performance, currently place HP at a Zacks Rank of #3 (Hold). In terms of valuation, HPQ is trading at a forward P/E ratio of 8.13, which is a substantial discount compared to its industry's average of 20.31. Its PEG ratio stands at 4.09, contrasting with the Computer - Micro Computers industry average of 2.84.
