Hewlett Packard Enterprise Company (NYSE:HPE) Lifted to “Hold” at Zacks Investment Research

Hewlett Packard Enterprise Company (NYSE:HPE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors 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.”

Several other brokerages have also commented on HPE. BidaskClub raised Hewlett Packard Enterprise from a “sell” rating to a “hold” rating in a report on Monday, August 14th. TheStreet raised Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a report on Monday, October 16th. Loop Capital started 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. Sanford C. Bernstein restated an “outperform” rating and issued a $18.00 target price on shares of Hewlett Packard Enterprise in a research report on Monday, September 18th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.79.

Hewlett Packard Enterprise (NYSE HPE) traded down $0.02 during midday trading on Tuesday, hitting $13.70. The stock had a trading volume of 4,518,200 shares, compared to its average volume of 12,071,746. Hewlett Packard Enterprise has a 12 month low of $12.97 and a 12 month high of $24.88. The company has a market cap of $22,070.00 and a PE ratio of 8.46. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 0.50.

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 fiscal year.

Hewlett Packard Enterprise announced that its board has approved a stock repurchase plan on Wednesday, October 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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In related news, CEO Margaret C. Whitman sold 1,494,094 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $14.27, for a total transaction of $21,320,721.38. Following the sale, the chief executive officer now directly owns 1,514,639 shares of the company’s stock, valued at $21,613,898.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Margaret C. Whitman sold 389,668 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.64, for a total value of $6,873,743.52. Following the sale, the chief executive officer now directly owns 962,433 shares in the company, valued at $16,977,318.12. The disclosure for this sale can be found here. Insiders have sold 3,309,941 shares of company stock worth $48,162,528 over the last ninety days. 0.87% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of HPE. WFG Advisors LP lifted its holdings in Hewlett Packard Enterprise by 15.3% in the second quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock valued at $100,000 after acquiring an additional 801 shares during the period. Archford Capital Strategies LLC lifted its holdings in Hewlett Packard Enterprise by 6,858.7% in the second quarter. Archford Capital Strategies LLC now owns 7,585 shares of the technology company’s stock valued at $101,000 after acquiring an additional 7,476 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in Hewlett Packard Enterprise by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock valued at $108,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Hewlett Packard Enterprise by 4.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock valued at $111,000 after acquiring an additional 266 shares during the period. Finally, Harfst & Associates Inc. lifted its holdings in Hewlett Packard Enterprise by 42.5% in the second quarter. Harfst & Associates Inc. now owns 7,667 shares of the technology company’s stock valued at $127,000 after acquiring an additional 2,287 shares during the period. 81.96% of the stock is currently owned by institutional investors.

About Hewlett Packard Enterprise

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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