HP Share Buybacks to Drive Q4 EPS Towards High End of Guidance Range, BofA Securities Says

MT Newswires Live11-20 01:07

HP's (HPQ) share buybacks will drive the company's fiscal Q4 earnings per share towards the high end of its guidance range of $0.78 to $0.92, BofA Securities said in a Tuesday note.

The company is set to release its fiscal Q4 results on Nov. 26 and BofA Securities said it expects revenue from HP's printing segment and personal systems group to be in line with Street expectations of $4.3 billion and $9.7 billion respectively.

For fiscal 2025, the investment firm said it expects HP's print revenue to decline by 3%, weighed down by slowing demand, uncertain macro conditions, and pricing competition due to a weaker Japanese yen.

According to BofA Securities, any potential revenue or margin upside from the refresh cycle of personal computers will be offset by the printing segment's lower margins.

BofA Securities reiterated its neutral rating on HP, with a price target of $37.

Price: 37.05, Change: -0.38, Percent Change: -1.03

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