HP Inc. HPQ announced plans to reduce up to 6,000 jobs by the end of fiscal 2025. The company reported a 11% drop in revenue for the fourth quarter and also issued weak profit forecast for the current quarter.
HP raised its quarterly dividend from $0.25 to $0.2625 per share.
HP shares gained 2.1% to $30.00 in the after-hours trading session.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
- B of A Securities analyst Wamsi Mohan maintained an Underperform rating on November 18, 2022, but lowered the price target from $30 to $27. Mohan sees around 8% downside in the company’s stock and has an accuracy rate of 78%.
- Citigroup’s analyst Jim Suva reiterated a Neutral rating on the stock on November 18, 2022, but cut the price target from $33 to $31. This analyst sees over 5% upside in the company’s stock but has an accuracy rate of 64%.
- Credit Suisse’s analyst Shannon Cross downgraded the company’s stock from Outperform to Neutral on November 18, 2022, with a price target of $33. Cross sees around 12% upside in the company’s stock but has an accuracy rate of only 20%.
- Morgan Stanley’s analyst Erik Woodring maintained an Underweight rating on the stock on October 17, 2022, but slashed the price target from $28 to $24. Woodring sees around 18% downside in the company’s stock and has an accuracy rate of 33%.
- Loop Capital’s analyst Ananda Baruah downgraded the company’s stock from Buy to Hold on November 18, 2022, and slashed the price target from $50 to $29. This analyst sees around 1% downside in the company’s stock and has an accuracy rate of 65%.