Hewlett Packard Enterprise (NYSE:HPE) Releases Earnings Results, Beats Estimates By $0.03 EPS

Hewlett Packard Enterprise (NYSE:HPE) released its earnings results on Thursday. The technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03, FiscalAI reports. The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.91 billion. Hewlett Packard Enterprise had a return on equity of 9.01% and a net margin of 3.77%.

Hewlett Packard Enterprise Stock Performance

Shares of HPE traded up $0.65 during mid-day trading on Thursday, reaching $22.91. The company had a trading volume of 30,515,017 shares, compared to its average volume of 22,275,686. The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $30.22 billion, a P/E ratio of 27.93, a PEG ratio of 0.88 and a beta of 1.34. The stock has a 50 day moving average of $23.33 and a two-hundred day moving average of $21.57. Hewlett Packard Enterprise has a 52-week low of $11.97 and a 52-week high of $26.44.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HPE. Barclays upped their target price on shares of Hewlett Packard Enterprise from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. The Goldman Sachs Group boosted their price target on Hewlett Packard Enterprise from $27.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Morgan Stanley restated an “equal weight” rating and set a $25.00 price objective (down from $28.00) on shares of Hewlett Packard Enterprise in a report on Monday, November 17th. Piper Sandler began coverage on Hewlett Packard Enterprise in a report on Wednesday, October 22nd. They issued a “neutral” rating and a $24.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hewlett Packard Enterprise in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.24.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 40,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $24.58, for a total transaction of $983,200.00. Following the transaction, the director owned 83,869 shares of the company’s stock, valued at approximately $2,061,500.02. The trade was a 32.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Maeve C. Culloty sold 3,738 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $25.12, for a total value of $93,898.56. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 210,404 shares of company stock worth $5,248,749. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HPE. Empowered Funds LLC grew its position in Hewlett Packard Enterprise by 317.3% in the 1st quarter. Empowered Funds LLC now owns 149,810 shares of the technology company’s stock valued at $2,312,000 after acquiring an additional 113,906 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Hewlett Packard Enterprise by 44.7% in the first quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,377 shares during the period. Brown Advisory Inc. increased its stake in Hewlett Packard Enterprise by 4.4% during the 2nd quarter. Brown Advisory Inc. now owns 23,593 shares of the technology company’s stock worth $482,000 after buying an additional 996 shares during the period. Jump Financial LLC boosted its position in Hewlett Packard Enterprise by 25.8% in the 2nd quarter. Jump Financial LLC now owns 15,662 shares of the technology company’s stock valued at $320,000 after buying an additional 3,215 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Hewlett Packard Enterprise during the second quarter worth $207,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise

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. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.