PALO ALTO, Calif. - HP Inc. (NYSE: NYSE:HPQ) introduced HP Print AI, touted as the industry's first intelligent print experience, at HP Imagine today. The new technology aims to simplify printing tasks from setup to support, including a feature called Perfect Output, currently available in a beta program.
Perfect Output addresses common printing issues, especially from web browsers, where users often encounter unwanted white space, incorrect image sizes, and intrusive ads. The feature is designed to reformat content for better page fit and to exclude non-essential elements, potentially saving time, ink, and paper.
The company also highlighted HP Scan AI Enhanced, a cloud-based solution that automates document scanning processes for small and medium-sized businesses. It recognizes document types and extracts pertinent information, aiming to reduce manual data entry and save costs. A retail group in Italy reportedly cut labor costs by 80% after implementing the technology.
For the architecture, engineering, and construction industries, HP unveiled Build Workspace (LON:WKP), an AI-enabled print collaboration ecosystem. This platform facilitates site observation creation, collaboration, and task automation, including field reports, aiming to improve workflow efficiency.
HP Print AI also promises personalized support through natural language processing and contextual awareness, offering customized help based on user preferences and history. Additionally, the AI can enhance creative projects, such as greeting cards, by suggesting layouts and styles, and correcting common print errors.
The company plans to roll out more HP Print AI capabilities throughout 2025. The Build Workspace is available now in beta in the US and Europe, with a broader release expected to start in Spring 2025. HP Scan AI Enhanced is currently available in North America, most of Europe, Latin America, and parts of Asia.
HP's announcement is based on a press release statement and the company's internal analysis, which positions HP Print AI as a pioneering solution in the intelligent printing space. The impact of these technologies on customer experience and business efficiency will be observed as they become widely available.
In other recent news, HP Inc. has been making significant strides in the tech industry. The company recently announced an expansion of its Workforce Experience Platform and the introduction of new services, including AI services, aimed at enhancing productivity and reducing IT downtime. HP also introduced a series of next-generation artificial intelligence (AI) products and solutions, including AI-driven PCs, video conferencing tools, and a workstation solution for AI developers.
In addition to these technological advancements, HP has reaffirmed its fiscal 2024 free cash flow forecast of $3.1 to $3.6 billion and announced a new $10 billion share buyback program. Despite these efforts, HP's third-quarter 2024 earnings fell short of expectations, primarily due to underperformance in its Print segment. However, the company did see a 2% year-over-year revenue increase.
HP is also embroiled in a legal case seeking up to $4 billion in damages from the estate of the late British billionaire Mike Lynch, related to HP's acquisition of the British tech company Autonomy. Amid these developments, Loop Capital, TD Cowen, and Goldman Sachs (NYSE:GS) have maintained their Hold and Neutral ratings on HP's shares. These are the latest developments in the company's ongoing efforts to navigate the tech industry and maintain financial stability.
InvestingPro Insights
Amid the launch of HP Inc.'s (NYSE: HPQ) innovative HP Print AI technology, the company's financial health and market performance provide a broader context for its ability to invest in and develop such pioneering solutions. With a market capitalization of $34.42 billion, HP stands as a significant player in the Technology Hardware, Storage & Peripherals industry. This stature is supported by a consistent history of shareholder returns, including a dividend that has been raised for seven consecutive years, signaling confidence in the company's long-term financial stability.
Investors may take note of HP's commitment to returning value through both dividends and share repurchases, as management has been aggressively buying back shares, contributing to a high shareholder yield. This is complemented by a trading profile characterized by low price volatility, which could appeal to investors looking for stable returns in a volatile market.
On the valuation front, HP's price-to-earnings (P/E) ratio stands at 12.36, with an adjusted P/E ratio for the last twelve months as of Q3 2024 at 10.86. This relatively low P/E ratio, when paired with near-term earnings growth, suggests that the stock may be undervalued, especially considering the company's strong free cash flow yield. However, it's important to approach this with caution, as 11 analysts have revised their earnings expectations downwards for the upcoming period.
For those seeking more in-depth analysis, InvestingPro offers additional insights, with 13 more InvestingPro Tips available, providing a comprehensive view of HP Inc.'s financial metrics and market position. These tips can be accessed by visiting https://www.investing.com/pro/HPQ, offering investors a valuable resource for making informed decisions.
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