Hewlett Packard Enterprise (NYSE:HPE) Updates Q4 2024 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPE) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.520-0.570 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of $8.1 billion-$8.4 billion, compared to the consensus revenue estimate of $8.2 billion. Hewlett Packard Enterprise also updated its FY 2024 guidance to 1.920-1.970 EPS.

Hewlett Packard Enterprise Stock Performance

Hewlett Packard Enterprise stock traded down $0.29 during trading hours on Wednesday, reaching $18.77. 21,636,693 shares of the company were exchanged, compared to its average volume of 14,976,707. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company has a current ratio of 0.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $19.57 and a 200 day moving average of $18.44. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.80 and a beta of 1.20.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.38% and a return on equity of 8.49%. Hewlett Packard Enterprise’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. As a group, research analysts anticipate that Hewlett Packard Enterprise will post 1.59 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, September 19th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.77%. Hewlett Packard Enterprise’s dividend payout ratio is presently 37.96%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HPE. Bank of America raised their target price on Hewlett Packard Enterprise from $22.00 to $24.00 and gave the company a neutral rating in a report on Friday, June 21st. Argus upgraded shares of Hewlett Packard Enterprise from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Friday, June 7th. Susquehanna upped their target price on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, June 5th. UBS Group increased their price target on shares of Hewlett Packard Enterprise from $16.00 to $17.00 and gave the company a neutral rating in a report on Wednesday, June 5th. Finally, Barclays boosted their price objective on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the stock an equal weight rating in a report on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $21.18.

Insider Transactions at Hewlett Packard Enterprise

In related news, SVP Kirt P. Karros sold 30,686 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $20.49, for a total value of $628,756.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hewlett Packard Enterprise news, SVP Kirt P. Karros sold 30,686 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $20.49, for a total transaction of $628,756.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerri Gold sold 22,784 shares of Hewlett Packard Enterprise stock in a transaction on Friday, June 14th. The shares were sold at an average price of $21.67, for a total value of $493,729.28. Following the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The disclosure for this sale can be found here. In the last three months, insiders sold 140,141 shares of company stock valued at $2,850,108. Company insiders own 0.40% of the company’s stock.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.