Hewlett Packard Enterprise Company (HPE) to Issue Dividend Increase – $0.08 Per Share
Hewlett Packard Enterprise Company (NYSE:HPE) declared a quarterly dividend on Thursday, November 9th, RTT News reports. Shareholders of record on Wednesday, December 13th will be given a dividend of 0.075 per share by the technology company on Wednesday, January 3rd. This represents a $0.30 annualized dividend and a yield of 2.19%. This is a boost from Hewlett Packard Enterprise’s previous quarterly dividend of $0.07.
Hewlett Packard Enterprise has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hewlett Packard Enterprise to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 22.0%.
Hewlett Packard Enterprise (NYSE HPE) traded up $0.17 during trading on Thursday, reaching $13.71. 5,881,769 shares of the company’s stock traded hands, compared to its average volume of 10,380,000. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50. Hewlett Packard Enterprise has a 52-week low of $12.97 and a 52-week high of $19.16. The company has a market cap of $22,130.00 and a price-to-earnings ratio of 8.38.
Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Tuesday, September 5th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%. The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the business earned $0.49 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. equities research analysts expect that Hewlett Packard Enterprise will post 1.38 EPS for the current fiscal year.
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Hewlett Packard Enterprise announced that its board has authorized a stock repurchase plan on Wednesday, October 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $17.50 price objective (down previously from $22.00) on shares of Hewlett Packard Enterprise in a research note on Wednesday, September 6th. Mizuho reiterated a “hold” rating and issued a $14.00 price objective on shares of Hewlett Packard Enterprise in a research note on Friday, October 20th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $15.00 price objective (down previously from $20.00) on shares of Hewlett Packard Enterprise in a research note on Friday, September 1st. ValuEngine upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $18.00 price objective on shares of Hewlett Packard Enterprise in a research note on Monday, September 18th. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.79.
In other news, EVP Henry Gomez sold 55,200 shares of Hewlett Packard Enterprise stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $13.53, for a total transaction of $746,856.00. Following the sale, the executive vice president now directly owns 45,004 shares in the company, valued at approximately $608,904.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeff T. Ricci sold 87,324 shares of Hewlett Packard Enterprise stock in a transaction on Monday, November 6th. The stock was sold at an average price of $13.43, for a total value of $1,172,761.32. Following the sale, the senior vice president now owns 24,846 shares in the company, valued at $333,681.78. The disclosure for this sale can be found here. Insiders have sold a total of 3,309,941 shares of company stock worth $48,162,528 over the last ninety days. Insiders own 0.87% of the company’s stock.
Hewlett Packard Enterprise Company Profile
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, 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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