Morgan Stanley Raises Hewlett Packard Enterprise (NYSE:HPE) Price Target to $17.00


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Hewlett Packard Enterprise (NYSE:HPE) had its target price raised by Morgan Stanley from $15.50 to $17.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Raymond James increased their price objective on shares of Hewlett Packard Enterprise from $14.00 to $16.00 and gave the stock an outperform rating in a report on Tuesday, March 9th. Daiwa Capital Markets upgraded shares of Hewlett Packard Enterprise from a neutral rating to an outperform rating and lifted their price target for the company from $12.00 to $17.00 in a report on Wednesday, March 10th. Credit Suisse Group lifted their price target on shares of Hewlett Packard Enterprise from $11.00 to $12.00 and gave the company an underperform rating in a report on Tuesday, March 9th. JPMorgan Chase & Co. lifted their price target on shares of Hewlett Packard Enterprise from $17.00 to $18.00 and gave the company an overweight rating in a report on Friday, March 26th. Finally, Bank of America lifted their price target on shares of Hewlett Packard Enterprise from $17.00 to $20.00 in a report on Wednesday, March 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $12.84.

Shares of HPE stock opened at $15.95 on Wednesday. The business’s fifty day moving average price is $15.36 and its 200 day moving average price is $12.37. Hewlett Packard Enterprise has a 1-year low of $8.28 and a 1-year high of $16.14. The firm has a market capitalization of $20.75 billion, a PE ratio of -61.35, a P/E/G ratio of 3.08 and a beta of 1.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.88 and a quick ratio of 0.74.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Monday, March 1st. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. Hewlett Packard Enterprise had a positive return on equity of 10.73% and a negative net margin of 1.19%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.75 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts expect that Hewlett Packard Enterprise will post 0.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 10th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, March 9th. Hewlett Packard Enterprise’s payout ratio is currently 35.56%.

In other news, EVP John F. Schultz sold 269,598 shares of the business’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $16.04, for a total value of $4,324,351.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alan Richard May sold 343,017 shares of the business’s stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $14.31, for a total transaction of $4,908,573.27. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $26,000. Graves Light Private Wealth Management Inc. acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $26,000. JJJ Advisors Inc. boosted its holdings in shares of Hewlett Packard Enterprise by 1,062.1% in the 4th quarter. JJJ Advisors Inc. now owns 2,487 shares of the technology company’s stock valued at $29,000 after buying an additional 2,273 shares during the period. Ironwood Wealth Management LLC. acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $32,000. Finally, Freedman Financial Associates Inc. acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $33,000. 81.28% of the stock is owned by institutional investors and hedge funds.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem, HPE Synergy, and HPE ProLiant; storage solutions; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

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Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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