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HP EPS BEATS ESTIMATES; STOCK FALLS BELOW MA5 - Capital Street FX

23-Aug
19:44 IST

HP Inc.’s stock is currently trading at 17.57-lower by 7.18% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 8.87%. The stock has pared some of its earlier losses after the opening bell.

The company reported its earnings after the market close on Thursday. HP generated an adjusted EPS of 58 cents for its latest quarter. The EPS was above the market expectation of 55 cents. The company brought in 14.60 billion in revenue for the third quarter. The revenue was, however, below the consensus estimates of 14.61 billion.

HP raised EPS guidance for its full-year 2019. The company increased its adjusted EPS for the full fiscal year in the range of $2.18-$2.22 from $2.14-$2.21. The markets were expecting an EPS of $2.18 for the full year 2019.

On the technical front, the RSI is currently at 28.06% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards.

 

TRADE SUGGESTION- LIMIT SELL AT 17.64 TAKE PROFIT AT 17.42 STOP LOSS AT 17.73

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