HP Climbs as Investors Look Ahead to Earnings

HP shares closed at $31.28, up 1.79% in the latest trading session. The gain came as the S&P 500 fell 0.25% and the Dow lost 0.86%; the Nasdaq rose 0.24%.

Over the past month, HP shares had fallen 1.88%, while the Computer and Technology sector gained 4%. The S&P 500 was down 0.42% over the same period.

Ahead of the company’s next earnings report, Zacks consensus estimates call for quarterly earnings of $0.75 per share, down 19.35% from the year-earlier period. Revenue is forecast at $15.47 billion, a 5.69% increase.

For the annual period, Zacks estimates earnings of $3.23 per share and revenue of $60.01 billion. Those figures represent increases of 3.53% and 8.52%, respectively, from the prior year.

Zacks said its consensus estimate for HP’s earnings per share had not changed over the past 30 days. The stock’s forward price-to-earnings ratio was 9.51, compared with an industry average of 20.68, according to the article.