Zacks Investment Research upgraded shares of Hewlett Packard Enterprise Co. (NYSE:HPE) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $25.00 price target on the stock.
According to Zacks, “Hewlett Packard Enterprise Company was spun-off from the Hewlett-Packard Company in November 2015. The company operates in four segments: Enterprise Services, Enterprise Group, Software and Financial Services. The Enterprise Group is the company’s largest revenue contributor, accounting for more than half of total revenues. This segment offers servers, management software, converged infrastructure solutions and technology services; hybrid cloud solutions, business critical systems and storage products. The Software segment offers software to capture, store, explore, analyze, protect and share information and insights within and outside organizations; enterprise security, application delivery management, IT operations management software products. The Enterprise Services segment offers consulting, outsourcing and support services across infrastructure, applications and business process domains; application and business services. The company is headquartered in Palo Alto, California. “
HPE has been the topic of several other research reports. Oppenheimer Holdings Inc. reissued a buy rating and issued a $21.00 price objective on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. Citigroup Inc. raised Hewlett Packard Enterprise from a neutral rating to a buy rating and boosted their price objective for the stock from $20.00 to $25.00 in a research report on Monday, July 25th. They noted that the move was a valuation call. Needham & Company LLC reissued a buy rating and issued a $24.00 price objective (up previously from $22.00) on shares of Hewlett Packard Enterprise in a research report on Thursday, September 8th. Deutsche Bank AG boosted their price objective on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, June 9th. Finally, Sanford C. Bernstein reissued an outperform rating and issued a $24.50 price objective on shares of Hewlett Packard Enterprise in a research report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Hewlett Packard Enterprise has a consensus rating of Hold and an average price target of $21.33.
Hewlett Packard Enterprise (NYSE:HPE) traded down 0.39% during mid-day trading on Wednesday, hitting $22.71. The stock had a trading volume of 1,560,009 shares. The stock has a market capitalization of $37.82 billion and a P/E ratio of 9.47. The company’s 50 day moving average is $22.15 and its 200-day moving average is $19.35. Hewlett Packard Enterprise has a 52 week low of $11.62 and a 52 week high of $23.53.
Hewlett Packard Enterprise (NYSE:HPE) last announced its earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.64 billion. Hewlett Packard Enterprise had a return on equity of 10.15% and a net margin of 8.31%. The business’s revenue was down 3.9% on a year-over-year basis. On average, analysts expect that Hewlett Packard Enterprise will post $1.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 12th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, October 7th. Hewlett Packard Enterprise’s dividend payout ratio is presently 9.17%.
In related news, EVP Robert Youngjohns sold 8,622 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $19.69, for a total transaction of $169,767.18. Following the completion of the sale, the executive vice president now directly owns 18,033 shares in the company, valued at approximately $355,069.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy C. Stonesifer sold 101,610 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $22.01, for a total value of $2,236,436.10. Following the sale, the chief financial officer now owns 101,610 shares of the company’s stock, valued at $2,236,436.10. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Large investors have recently modified their holdings of the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Hewlett Packard Enterprise during the second quarter valued at $100,000. Citizens Financial Group Inc RI boosted its stake in shares of Hewlett Packard Enterprise by 22.6% in the first quarter. Citizens Financial Group Inc RI now owns 5,809 shares of the company’s stock valued at $103,000 after buying an additional 1,069 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Hewlett Packard Enterprise by 79.7% in the second quarter. MCF Advisors LLC now owns 5,640 shares of the company’s stock valued at $103,000 after buying an additional 2,501 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Hewlett Packard Enterprise by 2.5% in the second quarter. Ropes Wealth Advisors LLC now owns 7,977 shares of the company’s stock valued at $146,000 after buying an additional 195 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its stake in shares of Hewlett Packard Enterprise by 18.0% in the second quarter. Cedar Wealth Management LLC now owns 8,211 shares of the company’s stock valued at $150,000 after buying an additional 1,251 shares in the last quarter. Institutional investors own 80.51% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company operates through five segments: Enterprise Group, Software, Enterprise Services, 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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