Hewlett Packard Enterprise (NYSE:HPE) Releases Q3 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPEGet Rating) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.44-$0.54 for the period, compared to the consensus estimate of $0.51. Hewlett Packard Enterprise also updated its FY 2022 guidance to $1.96-$2.10 EPS.

NYSE HPE traded up $0.18 during mid-day trading on Wednesday, reaching $15.78. 12,539,175 shares of the stock were exchanged, compared to its average volume of 11,211,611. Hewlett Packard Enterprise has a 1-year low of $12.99 and a 1-year high of $17.76. The business’s fifty day simple moving average is $15.85 and its 200 day simple moving average is $16.03. The stock has a market capitalization of $20.52 billion, a PE ratio of 5.68, a PEG ratio of 2.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.94.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last announced its earnings results on Wednesday, June 1st. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Hewlett Packard Enterprise had a return on equity of 20.07% and a net margin of 13.32%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that Hewlett Packard Enterprise will post 1.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Monday, June 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.04%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 17.27%.

A number of analysts recently issued reports on HPE shares. Zacks Investment Research lowered shares of Hewlett Packard Enterprise from a strong-buy rating to a hold rating and set a $17.00 target price on the stock. in a research report on Tuesday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of Hewlett Packard Enterprise from $20.00 to $18.00 in a report on Wednesday, May 25th. Sanford C. Bernstein upgraded shares of Hewlett Packard Enterprise from a market perform rating to an outperform rating and set a $20.00 price target on the stock in a report on Wednesday, March 2nd. Morgan Stanley lowered shares of Hewlett Packard Enterprise from an equal weight rating to an underweight rating and decreased their price target for the company from $17.00 to $15.00 in a report on Tuesday, April 12th. They noted that the move was a valuation call. Finally, StockNews.com initiated coverage on shares of Hewlett Packard Enterprise in a report on Thursday, March 31st. They issued a buy rating on the stock. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Hewlett Packard Enterprise has an average rating of Hold and an average price target of $17.21.

Institutional investors have recently added to or reduced their stakes in the stock. Ironwood Wealth Management LLC. increased its stake in Hewlett Packard Enterprise by 52.8% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 4,186 shares of the technology company’s stock worth $61,000 after buying an additional 1,447 shares during the period. First Manhattan Co. increased its position in shares of Hewlett Packard Enterprise by 89.4% in the 1st quarter. First Manhattan Co. now owns 2,413 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,139 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Hewlett Packard Enterprise by 32.2% in the 1st quarter. Beacon Pointe Advisors LLC now owns 18,558 shares of the technology company’s stock worth $310,000 after purchasing an additional 4,515 shares during the last quarter. Toroso Investments LLC increased its position in shares of Hewlett Packard Enterprise by 11.9% in the 4th quarter. Toroso Investments LLC now owns 19,139 shares of the technology company’s stock worth $302,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of Hewlett Packard Enterprise in the 4th quarter worth about $297,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile (Get Rating)

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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