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Why Are HP Shares Rising Today?

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HP Inc (NYSE: HPQ) is trading higher Thursday after the company issued full-year 2022 earnings guidance above estimates and raised its dividend.

HP expects full-year 2022 earnings to be in a range of $4.07 to $4.27 per share versus the estimate of $3.78 per share. The company raised its dividend from about 19 cents per share to 25 cents per share, representing an approximately 29% increase.

HP expects to return at least 100% of full-year 2022 free cash flow to shareholders via dividends and buybacks.

“We continue to build a stronger HP. We have delivered exceptional financial performance since our last investor day in 2019 – and we are confident in our plans to deliver sustained revenue, operating profit, EPS and free cash flow growth,” said Enrique Lores, president and CEO of HP.

Lores continued, “We are strengthening our core business, building a more growth-oriented portfolio, and creating a more digital company to meet changing customer needs and capitalize on secular trends across our categories.”

HPQ Price Action: HP has traded as high as $36 and as low as $17.25 over a 52-week period.

The stock was up 5.70% at $30.22 at the time of publication.

Photo: Guillaume Preat from Pixabay.

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