HP: Xerox Withdrawal Shifts The Narrative Toward The $8bn Buyback [Seeking Alpha]
HP Inc. (HPQ)
Last hp inc. earnings: 2/24 04:05 pm
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Source: Seeking Alpha
SummaryAs expected, Xerox withdraws its bid for HPQ.All-clear for the $8bn buyback program to unfold over the next twelve months.HPQ screens cheaply at ~4-5x post-recession earnings.However, I would caution against buying the dip pending further clarity into medium-term EPS and the size/pace of capital returns.Xerox's (XRXFollowing the sell-off, HPQ stock screens attractively at ~4-5x post-recession earnings and a sizable buyback program to boot. That said, there's too much uncertainty at this juncture, and pending further clarity into its earnings power prospects and capital return plans, I would sit this one out.What Happened?Last week, theWSJ reportedXRX press releaseThe current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc.That said, I do not think the HPQ-XRX saga is over – a Printing industry consolidation still makes sense, especially
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News
- Is HP (HPQ) Now Offering Value After Prolonged Share Price Weakness [Yahoo! Finance]Yahoo! Finance
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- Morgan Stanley Lowers its Price Target on HP Inc. (HPQ) to $16 and Maintains an Underweight Rating [Yahoo! Finance]Yahoo! Finance
- Mint Innovation Achieves Industry-First Closed Loop Recycled Copper Production in Collaboration with HP [Yahoo! Finance]Yahoo! Finance
- JPMorgan Mixed on HP (HPQ) Amid Demand Concerns [Yahoo! Finance]Yahoo! Finance
HPQ
Earnings
- 2/24/26 - Beat
HPQ
Sec Filings
- 3/4/26 - Form 4
- 3/4/26 - Form 4
- 3/4/26 - Form 4
- HPQ's page on the SEC website