Hewlett Packard Enterprise Company (NYSE:HPE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, October 31st.
According to Zacks, “Estimates have remained unchanged ahead of Hewlett Packard Enterprise’s Q4 earnings release. The company has a mixed record of earnings surprises in recent quarters. During the Q3 earnings conference call, the company had provided a disappointing guidance for Q4 which undermines its near-term prospects. It hinted that competitive pricing, heightened commodities pricing pressure and some dilution from M&A will dent the bottom-line performance. Nonetheless, we are encouraged by the company’s massive restructuring initiatives. On one hand, it is offloading low-margin business such as Software, which, in our opinion, will improvise the company’s margins over the long run. And on the other hand, it is enhancing its capabilities in the hybrid IT model as evident from the recent agreements to acquire SimpliVity and Cloud Cruiser. We believe the company’s focus on hybrid IT model will drive growth over the long run.”
A number of other research firms have also weighed in on HPE. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $17.00 target price on shares of Hewlett Packard Enterprise in a report on Friday, September 1st. Barclays PLC lifted their target price on Hewlett Packard Enterprise from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, September 1st. Jefferies Group LLC reissued a “buy” rating and set a $22.00 price objective on shares of Hewlett Packard Enterprise in a report on Saturday, July 22nd. Loop Capital began coverage on Hewlett Packard Enterprise in a report on Tuesday, August 22nd. They set a “hold” rating and a $17.00 price objective for the company. Finally, BidaskClub raised Hewlett Packard Enterprise from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $17.49.
Shares of Hewlett Packard Enterprise (NYSE:HPE) traded up $0.41 during trading hours on Tuesday, reaching $13.68. The company’s stock had a trading volume of 12,888,760 shares, compared to its average volume of 10,617,009. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50. Hewlett Packard Enterprise has a fifty-two week low of $12.97 and a fifty-two week high of $24.88. The company has a market cap of $22,154.27, a PE ratio of 8.44, a PEG ratio of 1.75 and a beta of 2.59.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Hewlett Packard Enterprise had a return on equity of 9.04% and a net margin of 0.29%. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same period in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts forecast that Hewlett Packard Enterprise will post 1.38 earnings per share for the current year.
Hewlett Packard Enterprise declared that its board has approved a stock repurchase program on Wednesday, October 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
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In related news, CEO Margaret C. Whitman sold 249,052 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $13.14, for a total transaction of $3,272,543.28. Following the completion of the sale, the chief executive officer now owns 892,118 shares in the company, valued at $11,722,430.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeff T. Ricci sold 87,324 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $13.43, for a total value of $1,172,761.32. Following the sale, the senior vice president now owns 24,846 shares of the company’s stock, valued at approximately $333,681.78. The disclosure for this sale can be found here. Insiders sold 2,920,273 shares of company stock worth $41,288,784 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP grew its holdings in Hewlett Packard Enterprise by 15.3% during the 2nd quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock valued at $100,000 after buying an additional 801 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in Hewlett Packard Enterprise by 6,858.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 7,585 shares of the technology company’s stock valued at $101,000 after buying an additional 7,476 shares in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in Hewlett Packard Enterprise by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock valued at $108,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Hewlett Packard Enterprise by 4.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock worth $111,000 after purchasing an additional 266 shares during the period. Finally, Harfst & Associates Inc. boosted its holdings in shares of Hewlett Packard Enterprise by 42.5% in the 2nd quarter. Harfst & Associates Inc. now owns 7,667 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,287 shares during the period. Institutional investors and hedge funds own 81.43% of the company’s stock.
Hewlett Packard Enterprise Company Profile
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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