Hewlett Packard Enterprise (NYSE:HPE) Updates Q3 2022 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPEGet Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.44-$0.54 for the period, compared to the consensus earnings per share estimate of $0.52. The company issued revenue guidance of -.Hewlett Packard Enterprise also updated its FY 2022 guidance to $1.96-$2.10 EPS.

NYSE HPE opened at $15.34 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 0.90. Hewlett Packard Enterprise has a 52 week low of $12.99 and a 52 week high of $17.76. The stock has a fifty day moving average of $15.67 and a 200-day moving average of $16.05. The stock has a market capitalization of $19.93 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 3.28 and a beta of 1.15.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Hewlett Packard Enterprise had a return on equity of 19.01% and a net margin of 13.28%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same period last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts forecast that Hewlett Packard Enterprise will post 1.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Monday, June 13th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.13%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 17.27%.

Several research analysts have weighed in on the company. Bank of America lowered Hewlett Packard Enterprise from a buy rating to a neutral rating and reduced their target price for the stock from $19.00 to $16.00 in a report on Friday, May 20th. StockNews.com lowered Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Monday. Barclays reduced their target price on Hewlett Packard Enterprise from $20.00 to $19.00 and set an overweight rating on the stock in a report on Thursday, June 2nd. KGI Securities assumed coverage on Hewlett Packard Enterprise in a report on Tuesday, April 19th. They set an outperform rating on the stock. Finally, Sanford C. Bernstein upgraded Hewlett Packard Enterprise from a market perform rating to an outperform rating and set a $20.00 target price on the stock in a report on Wednesday, March 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Hewlett Packard Enterprise presently has an average rating of Hold and an average price target of $17.54.

In related news, EVP Alan Richard May sold 94,705 shares of the company’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $15.08, for a total transaction of $1,428,151.40. Following the sale, the executive vice president now owns 310,500 shares in the company, valued at $4,682,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ironwood Wealth Management LLC. increased its position in Hewlett Packard Enterprise by 52.8% during the second 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 last quarter. First Manhattan Co. grew its position in shares of Hewlett Packard Enterprise by 89.4% in the first quarter. First Manhattan Co. now owns 2,413 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,139 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in shares of Hewlett Packard Enterprise by 32.2% in the first quarter. Beacon Pointe Advisors LLC now owns 18,558 shares of the technology company’s stock valued at $310,000 after purchasing an additional 4,515 shares during the last quarter. Toroso Investments LLC grew its position in shares of Hewlett Packard Enterprise by 11.9% in the fourth quarter. Toroso Investments LLC now owns 19,139 shares of the technology company’s stock valued at $302,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Forum Financial Management LP acquired a new position in shares of Hewlett Packard Enterprise in the fourth quarter valued at approximately $297,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise (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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