Hewlett Packard Enterprise Company (NYSE:HPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, September 7th.
According to Zacks, “Hewlett Packard Enterprise offers technology solutions to business and public sector enterprises. Estimates have been moving down after the company reported third-quarter fiscal 2017 results. Although the top and bottom lines came ahead of the respective Zacks Consensus Estimate, the disappointing guidance for the next quarter undermines its near-term prospects. The company hinted that competitive pricing, heightened commodities pricing pressure and some dilution from M&A will dent its bottom-line performance. Furthermore, in our opinion, the company’s contrarian strategy may be in the right direction, but the turnaround is still far behind as we haven’t seen any materialistic improvement in its recently reported financial results. We also consider that the company is still struggling to determine its true business focus. The stock has underperformed the industry to which it belongs to in a year’s time.”
Several other research analysts have also recently commented on HPE. Barclays PLC decreased their target price on shares of Hewlett Packard Enterprise from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, May 10th. Credit Suisse Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Hewlett Packard Enterprise in a research note on Tuesday, May 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a research note on Friday, May 26th. Robert W. Baird reaffirmed a “hold” rating on shares of Hewlett Packard Enterprise in a research note on Thursday, June 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 price target (up from $17.00) on shares of Hewlett Packard Enterprise in a research note on Thursday, June 1st. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.03.
Shares of Hewlett Packard Enterprise (HPE) traded up 0.37% during midday trading on Thursday, hitting $13.52. The company had a trading volume of 15,605,995 shares. The company has a 50-day moving average of $13.61 and a 200-day moving average of $13.66. Hewlett Packard Enterprise has a 12 month low of $12.97 and a 12 month high of $19.16. The company has a market capitalization of $21.90 billion, a PE ratio of 10.32 and a beta of 2.72.
Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Tuesday, September 5th. The technology company reported $0.30 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 analysts’ expectations of $7.49 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. Hewlett Packard Enterprise’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that Hewlett Packard Enterprise will post $1.40 earnings per share for the current year.
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In other Hewlett Packard Enterprise news, EVP Christopher P. Hsu sold 15,333 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $17.67, for a total value of $270,934.11. Following the transaction, the executive vice president now owns 15,333 shares in the company, valued at approximately $270,934.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Margaret C. Whitman sold 62,652 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $16.71, for a total transaction of $1,046,914.92. Following the completion of the transaction, the chief executive officer now owns 830,251 shares in the company, valued at approximately $13,873,494.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,212,729 shares of company stock worth $37,471,052. Company insiders own 0.87% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP increased its stake in Hewlett Packard Enterprise by 15.3% in the 2nd quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock valued at $100,000 after buying an additional 801 shares during the period. Archford Capital Strategies LLC increased its stake in Hewlett Packard Enterprise by 6,858.7% in the 2nd quarter. Archford Capital Strategies LLC now owns 7,585 shares of the technology company’s stock valued at $101,000 after buying an additional 7,476 shares during the period. YorkBridge Wealth Partners LLC increased its stake in Hewlett Packard Enterprise by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock valued at $108,000 after buying an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Hewlett Packard Enterprise by 4.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock valued at $111,000 after buying an additional 266 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Hewlett Packard Enterprise during the 1st quarter worth $125,000. Hedge funds and other institutional investors own 80.21% of the company’s stock.
About Hewlett Packard Enterprise
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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