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Hewlett-Packard Co. (NYSE: HPQ), the Palo Alto, California-based personal computer giant, is scheduled to discuss its fiscal third-quarter 2009 results today in a conference call at 5:00 PM ET, hosted by CEO Mark Hurd and CFO Cathie Lesjak. You can catch the live webcast of the call on the company's website.
In the quarter that ended July 31, HP expanded its selection of mini PCs, introduced a Web-based home printer, and expressed support for climate change legislation. Analysts surveyed by Thomson Reuters have forecast that earnings rose 4.4% from a year ago to 90 cents per share. That's also up four cents per share from the second quarter. But revenue for the third quarter is expected to be 2.8% lower to $27.3 billion. Earnings have essentially matched estimates in the past five quarters.
For the full year, analysts are so far looking for $3.75 per share (+3.5%) on sales of $113.2 billion (-4.3%). Though HP is the top provider of personal computers, like its competitors, HP has to contend with falling PC prices, weak demand, and fierce competition.
HP's earnings multiple is 10x, and its long-term EPS growth forecast is 10.2%, which is better than that of rival Dell Inc. (NASDAQ: DELL). Cash flow from operations fell by more than half between the first and second quarters, while long-term debt more than doubled in that same period. Yet the First Call consensus recommendation remains to buy HP; iStockAnalyst expects HP to post better-than-expected results and to reach a new 52-week in coming months.
Shares have risen 23% over the past three months but are still about 5% lower than a year ago.
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