HP gains 1.29%, closes at $31.3 ahead of the quarterly earnings report set for Tuesday

Published: May 26 2023, 22:11 GMT+0

HP gains 1.29%, closes at $31.3 ahead of the quarterly earnings report set for Tuesday

Today at a glance: pronounced bullish sentiment in the market helped the global computer company to make a notable 1.29% gain today, rising 40 cents and ultimately closing at $31.3.

  • Daily trading volume (7 million shares) was slightly above the current multiday average of 5.75 million.
  • HP discloses 26.3 cents per share dividend to be paid on Wednesday, April 5th

Today's closing bell ended a trading session in which S&P 500 built upon its previous close around 4,151.28 to gain 1.3%, before closing the session at 4,205.45. HP's gains were in line with the Technology sector which was up 0.534% as a whole.

HP is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 0.76 and the consensus revenue estimate is $13 billion.

The global computer company has gained 15.51% since its lowest print of $24.69 earlier this year. So far this year, it has been outperforming the S&P by 6.65%. Currently, the IT company has a market capitalization of $30.84 billion with an average daily volume of 5.75 million shares.

HP disclosed a quarterly dividend of 26.3 cents per share on Wednesday, January 11th that was paid on Wednesday, April 5th to all shareholders of record up until Wednesday, March 8th. Based on current prices, the company's decision thereby provides HP investors with an annual dividend yield of 3.36%.

This rally in HP's share price coincided with other technology stocks as Intel added 5.84% to its value, and traded at $29. Qualcomm gained 6.09%, as it traded at $110.35. Accenture plc Class A (Ireland) traded at $303.6 after closing today's trading day at $291.76 (up 4.06%).