HP downgraded by Bank of America over print margin worries [Seeking Alpha]
HP Inc. (HPQ)
Last hp inc. earnings: 2/24 04:05 pm
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Source: Seeking Alpha
Shares fell 1.9% in premarket trading. "Our rating change is predicated on our thesis that any EPS growth will come purely from share buybacks (~4% est share count decline) as potential upside from PCs (including AI PCs) should be offset by lower print margins (company has been over-earning in printing)," analyst Wamsi Mohan wrote in an investor note. Mohan lowered his rating on HP to Neutral from Buy, but kept his price target at $37. Print revenues are expected to decline 5%, 3% and 2% in fiscal 2024, 2025 and 2026, respectively, Mohan added, as operating margins "revert back to middle of range" at 18%. "Any further downside to print margins could increase pressure on earnings," Mohan added. "Cost takeouts and COVID-related supply chain issues created a transitory higher margin environment in printing that is not sustainable, in our view." This week, HP announced its acquisition of software company Vyopta, based in Austin, TX. No terms were disclosed. Analysts are large
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News
- Stock movers: Costco, Best Buy, HP Inc. [Yahoo! Finance]Yahoo! Finance
- HP (HPQ) Up 3.9% Since Last Earnings Report: Can It Continue? [Yahoo! Finance]Yahoo! Finance
- Chelsea Clinton, Ashley Graham, Arianna Huffington & AI Expert Allie K. Miller Headline Inaugural Women in AI Summit Hosted by ATTN: and The Female Quotient [Yahoo! Finance]Yahoo! Finance
- HP Inc. (NYSE: HPQ) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating. They now have a $37.00 price target on the stock.MarketBeat
- Novacyt S.A. (NVYTF) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
HPQ
Earnings
- 8/28/24 - Miss
HPQ
Sec Filings
- 9/13/24 - Form 4
- 9/12/24 - Form 144
- 8/29/24 - Form 10-Q
- HPQ's page on the SEC website