These Analysts Slash Their Forecasts On HP Following Downbeat Earnings

Core Viewpoint - HP Inc reported weaker-than-expected earnings for the second quarter, with adjusted earnings per share missing analyst estimates despite revenue slightly exceeding expectations [1][3]. Financial Performance - HP reported second-quarter revenue of $13.22 billion, surpassing analyst estimates of $13.15 billion [1]. - The company reported adjusted earnings of 71 cents per share, falling short of the expected 80 cents per share [1]. Future Outlook - For the third quarter, HP expects adjusted earnings to be between 68 cents and 80 cents per share, compared to analyst estimates of 90 cents per share [3]. - The full-year adjusted earnings outlook has been revised down from a range of $3.45 to $3.75 per share to a new range of $3 to $3.30 per share, while analysts had anticipated full-year adjusted earnings of $3.49 per share [3]. Market Reaction - Following the earnings announcement, HP shares fell by 6.4%, trading at $25.42 [3]. Analyst Ratings - JP Morgan analyst Samik Chatterjee maintained an Overweight rating on HP but lowered the price target from $30 to $27 [8]. - Barclays analyst Tim Long maintained an Equal-Weight rating and cut the price target from $36 to $28 [8].