Maxim Group reiterated their hold rating on shares of Hewlett Packard Enterprise (NYSE:HPE) in a research report released on Wednesday. The brokerage currently has a $18.00 price objective on the technology company’s stock.
“Top-line beats consensus on Storage, but Compute segment constant currency growth regresses to up only 2% y/y. Guidance slightly raised largely due to non-operational items; return to FY16 levels appear still far away. Maintain Hold rating, but slightly raising 12-month price target to $18, from $17.”,” Maxim Group’s analyst wrote.
A number of other research analysts have also commented on the stock. BMO Capital Markets reaffirmed a hold rating and set a $19.00 price objective on shares of Hewlett Packard Enterprise in a research report on Tuesday. OTR Global raised shares of Hewlett Packard Enterprise to a positive rating in a research report on Thursday, May 17th. ValuEngine lowered shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a research report on Monday, April 30th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Hewlett Packard Enterprise in a research report on Friday, March 2nd. They set a neutral rating and a $21.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $17.68.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, May 22nd. The technology company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $7.47 billion during the quarter, compared to analyst estimates of $7.39 billion. Hewlett Packard Enterprise had a net margin of 9.36% and a return on equity of 8.12%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. equities analysts predict that Hewlett Packard Enterprise will post 1.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 4th. Shareholders of record on Wednesday, June 13th will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 2.89%. This is a boost from Hewlett Packard Enterprise’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, June 12th. Hewlett Packard Enterprise’s dividend payout ratio is currently 31.25%.
Hewlett Packard Enterprise announced that its Board of Directors has authorized a stock buyback program on Thursday, February 22nd that permits the company to buyback $5.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In other Hewlett Packard Enterprise news, insider Philip Davis sold 16,405 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $18.51, for a total transaction of $303,656.55. Following the sale, the insider now directly owns 5,665 shares of the company’s stock, valued at $104,859.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy C. Stonesifer sold 161,858 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $18.30, for a total transaction of $2,962,001.40. Following the sale, the chief financial officer now directly owns 158,726 shares in the company, valued at $2,904,685.80. The disclosure for this sale can be found here. Insiders have sold 7,419,124 shares of company stock worth $132,293,171 over the last ninety days. Insiders own 1.18% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of Hewlett Packard Enterprise by 23.4% during the fourth quarter. Bank of Montreal Can now owns 1,015,577 shares of the technology company’s stock valued at $14,584,000 after purchasing an additional 192,576 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Hewlett Packard Enterprise by 13.6% during the fourth quarter. Guggenheim Capital LLC now owns 5,953,943 shares of the technology company’s stock valued at $85,497,000 after purchasing an additional 710,629 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Hewlett Packard Enterprise by 8.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,164,978 shares of the technology company’s stock valued at $189,050,000 after purchasing an additional 998,236 shares during the last quarter. Spark Investment Management LLC grew its stake in shares of Hewlett Packard Enterprise by 54.3% during the fourth quarter. Spark Investment Management LLC now owns 892,800 shares of the technology company’s stock valued at $12,820,000 after purchasing an additional 314,300 shares during the last quarter. Finally, Investors Research Corp bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $239,000. 78.74% of the stock is currently owned by hedge funds and other institutional investors.
Hewlett Packard Enterprise Company Profile
Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises. It operates through Enterprise Group, Financial Services, and Corporate Investments segments. The Enterprise Group segment offers industry standard servers and mission-critical servers to address the array of its customers' computing needs; converged storage solutions, including 3PAR StoreServ, StoreOnce, and StoreVirtual products, as well as traditional storage solutions, such as tape, storage networking, and legacy external disk products for enterprise and small- and medium-size business; software-defined switches, routers, wireless local area network equipment, network virtualization equipment, security software, location-based services, and network management products; and data center care, proactive care, and technology consulting services, as well as Aruba Services, and communications and media solutions.
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