HP Inc. ( HPQ ) gave upbeat 2018 earnings guidance late Thursday, sending shares of the PC-and-printer maker higher.
HP expects to earn $1.74 to $1.84 a share in fiscal 2018, which ends in October. The $1.79 midpoint is above the consensus for $1.75 according to Zacks Investment Research.
HP Inc., which split from Hewlett Packard Enterprise ( HPE ) in late 2015, is gaining market share in PCs, expects 2018 free cash flow of at least $3 billion. HP says it’ll return 50%-75% of that via dividends and stock buybacks.
HP also OK’d a 5% dividend hike.
Shares of HP rose 2.45% to 20.90 in late trading. HP fell 1 cent to 20.40 in the regular session in the stock market today .
HP closed Thursday still in range from a 19.68 buy point. HP initially cleared that entry on Aug. 24, after releasing fiscal Q3 2017 earnings. But shares closed under that level and didn’t truly clear the buy point until late September.
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