Hewlett Packard Enterprise Co. Forecasted to Earn Q4 2016 Earnings of $0.61 Per Share (HPE)
Hewlett Packard Enterprise Co. (NYSE:HPE) – Research analysts at Jefferies Group cut their Q4 2016 EPS estimates for Hewlett Packard Enterprise in a note issued to investors on Thursday. Jefferies Group analyst J. Kisner now forecasts that the brokerage will post earnings of $0.61 per share for the quarter, down from their prior forecast of $0.62. Jefferies Group currently has a “Buy” rating and a $27.00 target price on the stock. Jefferies Group also issued estimates for Hewlett Packard Enterprise’s FY2018 earnings at $1.32 EPS.
HPE has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of Hewlett Packard Enterprise in a research report on Thursday, September 8th. Citigroup Inc. upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $25.00 in a report on Monday, July 25th. They noted that the move was a valuation call. Robert W. Baird reiterated a “hold” rating on shares of Hewlett Packard Enterprise in a report on Wednesday, October 19th. Sanford C. Bernstein reiterated an “outperform” rating and set a $24.50 target price on shares of Hewlett Packard Enterprise in a report on Tuesday, September 20th. Finally, Wells Fargo & Co. reiterated a “market perform” rating on shares of Hewlett Packard Enterprise in a report on Friday. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. Hewlett Packard Enterprise presently has an average rating of “Hold” and a consensus target price of $21.82.
Shares of Hewlett Packard Enterprise (NYSE:HPE) opened at 23.31 on Friday. The stock has a market capitalization of $38.82 billion and a price-to-earnings ratio of 9.72. The stock’s 50 day moving average is $22.33 and its 200-day moving average is $20.20. Hewlett Packard Enterprise has a one year low of $11.62 and a one year high of $23.69.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Wednesday, September 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.64 billion. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be issued a $0.065 dividend. This is an increase from Hewlett Packard Enterprise’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 12th. This represents a $0.26 annualized dividend and a dividend yield of 1.12%. Hewlett Packard Enterprise’s payout ratio is presently 9.17%.
In related news, EVP Michael G. Nefkens sold 107,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $22.00, for a total transaction of $2,365,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Antonio F. Neri sold 11,781 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $22.68, for a total transaction of $267,193.08. Following the sale, the executive vice president now directly owns 4,936 shares in the company, valued at approximately $111,948.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. HBK Investments L P increased its stake in Hewlett Packard Enterprise by 53.1% in the first quarter. HBK Investments L P now owns 159,519 shares of the company’s stock worth $2,828,000 after buying an additional 55,305 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in 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 worth $103,000 after buying an additional 1,069 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Hewlett Packard Enterprise by 477.9% in the first quarter. Nuveen Asset Management LLC now owns 1,003,810 shares of the company’s stock worth $17,797,000 after buying an additional 830,111 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Hewlett Packard Enterprise during the first quarter worth approximately $264,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Hewlett Packard Enterprise during the first quarter worth approximately $4,560,000. 80.26% of the stock is currently owned by hedge funds and other institutional investors.
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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