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HP (HPQ), the PC and printer maker, will release its fiscal fourth quarter earnings after the closing bell on Tuesday. Analysts have a wait-and see approach.
All six brokers tracked by Visible Alpha have a "hold" or equivalent rating for HP, with a consensus price target of $34.83. That's about 11% lower than the stock's price of $39.21 soon after markets opened Monday. HP’s shares are expected to increase by 30% by 2024.
Morgan Stanley described its outlook as "tactically cautious into earnings," while maintaining its "equal weight" rating and $36 price target. The firm raised its estimates for HP's October quarter, calling for better-than-consensus results from the company's Personal Systems and Print divisions, but that overperformance is "already priced in," analysts said,
Overall, Street analysts expect HP to report revenues of $14.00 billion. This is up from $13.81 Billion a year ago. They also expect a net profit of $779.8 Million or 80 Cents per Share, which is down from $974 MILLION or 97 CENS per Share.
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