Where Will HP Stock Be in 3 Years?
HP (NYSE: HPQ) posted its latest quarterly report on Nov. 22. For the fourth quarter of fiscal 2022, which ended on Oct. 31, the PC and printer maker's revenue declined 11% year over year to $14.8 billion but still beat analysts' estimates by $120 million. Its adjusted earnings dropped 10% to $0.85 per share but also cleared the consensus forecast by a penny.
HP didn't provide any top-line guidance, but it expects its adjusted EPS to shrink 27%-36% year over year in the first quarter of fiscal 2023 and to slide 12%-22% for the full year. Both those estimates missed Wall Street's expectations and indicated the post-pandemic deceleration of the PC market would drag on for at least a few more quarters.
However, HP also unveiled a new "Future Ready Transformation Plan" which aims to streamline its business by fiscal 2025. Could that ambitious plan breathe fresh life into its stock over the next three years?
Source Fool.com
