PC Hewlett-Packard Company (
) late Thursday reported third quarter earnings that were in-line
with analyst expectations, but investors remained tentative about
the company's future amid its search for a new CEO.
The Palo Alto, CA-based company reported fiscal third quarter
net income of $1.77 billion, or 75 cents per share, compared with
$1.67 billion, or 69 cents per share, in the year-ago period.
Excluding one-time items, adjusted profit was $1.08 per share.
Revenue rose 11% from last year, to $30.7 billion.
On average, Wall Street analysts expected a matching profit of
$1.08 per share, on slightly lower revenue of $30.4 billion.
For the full year, the company predicted profits to range from
$4.49 to $4.51 per share, which straddles analyst estimates of
$4.50 per share.
Hewlett-Packard shares fell 56 cents, or -1.4%, in premarket
The Bottom Line
We had removed shares of HPQ from our recommended list back on
Oct.1, 2009, when the stock was trading at $47.21. The company has
a .79% dividend yield, based on last night's closing stock price of
$47.21. The stock has technical support in the $35-$37 price area.
If the shares can firm up, we see overhead resistance around the
$44 price level. We would remain on the sidelines for now.
Hewlett-Packard Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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