HPQ Stock Summary and Trading Ideas (HP | NYSE:HPQ)

HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise. HP focuses on the commercial market, but maintains sales of consumer devices and printers. The firm has a broad and global customer base, with only one third of sales coming from the US It completely outsources manufacturing and relies heavily on channel partners for its sales and marketing.

HP trades on the NYSE stock market under the symbol HPQ.

As of April 22, 2024, HPQ stock price declined to $27.70 with 4,790,038 million shares trading.

HPQ has a beta of 0.94, meaning it tends to be less sensitive to market movements. HPQ has a correlation of 0.28 to the broad based SPY ETF.

HPQ has a market cap of $27.10 billion. This is considered a Large Cap stock.

Last quarter HP reported $13 billion in Revenue and $.81 earnings per share. This fell short of revenue expectation by $-325 million and met earnings estimates .

In the last 3 years, HPQ stock traded as high as $41.47 and as low as $24.08.

The top ETF exchange traded funds that HPQ belongs to (by Net Assets): VTI, VOO, VO, COWZ, SPY.

HPQ has underperformed the market in the last year with a price return of -4.7% while the SPY ETF gained +22.3%. HPQ has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -3.9% and -4.8%, respectively, while the SPY returned +3.9% and -3.6%, respectively.

HPQ support price is $27.40 and resistance is $28.22 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HPQ stock will trade within this expected range on the day.