Hewlett Packard Enterprise (NYSE:HPE – Get Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.96-2.04 for the period, compared to the consensus EPS estimate of $2.08. Hewlett Packard Enterprise also updated its FY22 guidance to $1.96-2.04 EPS.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Hewlett Packard Enterprise from $18.00 to $16.00 and set an overweight rating on the stock in a research note on Thursday, July 14th. Morgan Stanley cut their price objective on shares of Hewlett Packard Enterprise from $14.00 to $12.00 and set an underweight rating for the company in a research report on Tuesday, October 11th. Credit Suisse Group initiated coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, August 16th. They set an outperform rating and a $18.00 target price on the stock. KGI Securities cut shares of Hewlett Packard Enterprise from an outperform rating to a neutral rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hewlett Packard Enterprise from $16.00 to $15.00 and set a hold rating for the company in a research report on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued 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 $16.41.
Hewlett Packard Enterprise Trading Down 0.4 %
Shares of Hewlett Packard Enterprise stock traded down $0.05 during trading hours on Wednesday, reaching $12.82. 12,331,397 shares of the company’s stock were exchanged, compared to its average volume of 11,321,812. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of 4.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16. The company has a current ratio of 0.92, a quick ratio of 0.66 and a debt-to-equity ratio of 0.44. Hewlett Packard Enterprise has a 52-week low of $11.90 and a 52-week high of $17.76. The company has a fifty day moving average of $13.28 and a 200-day moving average of $14.19.
Hewlett Packard Enterprise (NYSE:HPE – Get Rating) last posted its quarterly earnings data on Tuesday, August 30th. The technology company reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Hewlett Packard Enterprise had a net margin of 13.31% and a return on equity of 18.25%. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Hewlett Packard Enterprise will post 1.28 EPS for the current fiscal year.
Hewlett Packard Enterprise Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Monday, September 12th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 9th. This represents a $0.48 dividend on an annualized basis and a yield of 3.74%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 17.14%.
Insiders Place Their Bets
In related news, CEO Irv Rothman sold 70,115 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $13.33, for a total transaction of $934,632.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.45% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Hewlett Packard Enterprise
A number of institutional investors have recently made changes to their positions in HPE. Horizon Investments LLC raised its holdings in Hewlett Packard Enterprise by 50.1% in the first quarter. Horizon Investments LLC now owns 20,579 shares of the technology company’s stock valued at $344,000 after acquiring an additional 6,873 shares in the last quarter. Ergoteles LLC bought a new stake in Hewlett Packard Enterprise in the first quarter valued at about $343,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Hewlett Packard Enterprise by 10.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 20,531 shares of the technology company’s stock valued at $343,000 after buying an additional 2,019 shares in the last quarter. Forum Financial Management LP lifted its holdings in Hewlett Packard Enterprise by 4.5% during the 1st quarter. Forum Financial Management LP now owns 19,650 shares of the technology company’s stock worth $328,000 after buying an additional 841 shares during the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of Hewlett Packard Enterprise by 32.2% during the 1st quarter. Beacon Pointe Advisors LLC now owns 18,558 shares of the technology company’s stock valued at $310,000 after acquiring an additional 4,515 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.
About Hewlett Packard Enterprise
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. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; 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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