Hewlett Packard Enterprise Co. (HPE) Price Target Increased to $26.00 by Analysts at Needham & Company LLC
Hewlett Packard Enterprise Co. (NYSE:HPE) had its price objective boosted by equities research analysts at Needham & Company LLC from $24.00 to $26.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 21.10% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Citigroup Inc. raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $25.00 in a research note on Monday, July 25th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating on shares of Hewlett Packard Enterprise in a research note on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $24.50 target price on shares of Hewlett Packard Enterprise in a research note on Tuesday, September 20th. Raymond James Financial Inc. began coverage on Hewlett Packard Enterprise in a research note on Wednesday, August 17th. They set a “market perform” rating and a $22.07 target price for the company. Finally, Oppenheimer Holdings Inc. set a $25.00 target price on Hewlett Packard Enterprise and gave the company a “buy” rating in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.68.
Hewlett Packard Enterprise (NYSE:HPE) opened at 21.47 on Wednesday. The firm has a market cap of $35.76 billion and a P/E ratio of 8.96. The company has a 50-day moving average of $22.18 and a 200 day moving average of $19.62. 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 released its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Hewlett Packard Enterprise had a return on equity of 10.15% and a net margin of 8.31%. The company earned $12.20 billion during the quarter, compared to analysts’ expectations of $12.64 billion. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts predict that Hewlett Packard Enterprise will post $1.92 earnings per share for the current 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 $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 7th. Hewlett Packard Enterprise’s dividend payout ratio is currently 9.17%.
In other Hewlett Packard Enterprise news, EVP Michael G. Nefkens sold 107,500 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $22.00, for a total value of $2,365,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy C. Stonesifer sold 101,610 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the completion of the transaction, the chief financial officer now owns 101,610 shares in the company, valued at $2,236,436.10. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPE. Dodge & Cox increased its position in Hewlett Packard Enterprise by 3.0% in the first quarter. Dodge & Cox now owns 224,069,718 shares of the company’s stock valued at $3,972,756,000 after buying an additional 6,540,190 shares during the last quarter. Primecap Management Co. CA increased its position in Hewlett Packard Enterprise by 10.7% in the first quarter. Primecap Management Co. CA now owns 56,167,415 shares of the company’s stock valued at $995,848,000 after buying an additional 5,432,750 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Hewlett Packard Enterprise by 80.5% in the second quarter. UBS Asset Management Americas Inc. now owns 9,764,375 shares of the company’s stock valued at $178,395,000 after buying an additional 4,354,541 shares during the last quarter. Marshall Wace LLP increased its position in Hewlett Packard Enterprise by 282.2% in the second quarter. Marshall Wace LLP now owns 4,684,407 shares of the company’s stock valued at $85,584,000 after buying an additional 3,458,745 shares during the last quarter. Finally, MD Sass Investors Services Inc. acquired a new position in Hewlett Packard Enterprise during the second quarter valued at $55,797,000. Institutional investors and hedge funds own 80.50% 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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