Hewlett Packard Enterprise Co. (HPE) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Hewlett Packard Enterprise Co. (NYSE:HPE) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $25.00 target price on the stock.
According to Zacks, “Hewlett Packard Enterprise Company was spun-off from the Hewlett-Packard Company in November 2015. The company operates in four segments: Enterprise Services, Enterprise Group, Software and Financial Services. The Enterprise Group is the company’s largest revenue contributor, accounting for more than half of total revenues. This segment offers servers, management software, converged infrastructure solutions and technology services; hybrid cloud solutions, business critical systems and storage products. The Software segment offers software to capture, store, explore, analyze, protect and share information and insights within and outside organizations; enterprise security, application delivery management, IT operations management software products. The Enterprise Services segment offers consulting, outsourcing and support services across infrastructure, applications and business process domains; application and business services. The company is headquartered in Palo Alto, California. “
Several other research analysts have also weighed in on the stock. Oppenheimer Holdings Inc. restated a buy rating and set a $21.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. Sterne Agee CRT restated a neutral rating and set a $19.00 target price (up from $18.00) on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. Wells Fargo & Co. restated a buy rating on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. Bank of America Corp. restated a hold rating on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. Finally, Credit Suisse Group AG restated a buy rating on shares of Hewlett Packard Enterprise in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $21.33.
Shares of Hewlett Packard Enterprise (NYSE:HPE) opened at 22.50 on Wednesday. Hewlett Packard Enterprise has a 52-week low of $11.62 and a 52-week high of $23.53. The stock’s 50 day moving average is $22.21 and its 200 day moving average is $19.47. The stock has a market cap of $37.47 billion and a price-to-earnings ratio of 9.39.
Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.04. The firm earned $12.20 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts expect that Hewlett Packard Enterprise will post $1.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 12th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, October 7th. Hewlett Packard Enterprise’s dividend payout ratio is presently 9.17%.
In related news, EVP John F. Schultz sold 316,164 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $22.84, for a total transaction of $7,221,185.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Youngjohns sold 8,622 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $19.69, for a total transaction of $169,767.18. Following the sale, the executive vice president now directly owns 18,033 shares of the company’s stock, valued at $355,069.77. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Hewlett Packard Enterprise during the first quarter worth $3,400,000. Primecap Management Co. CA raised its stake in Hewlett Packard Enterprise by 10.7% in the first quarter. Primecap Management Co. CA now owns 56,167,415 shares of the company’s stock worth $995,848,000 after buying an additional 5,432,750 shares during the last quarter. State Street Corp raised its stake in Hewlett Packard Enterprise by 1.0% in the first quarter. State Street Corp now owns 84,485,271 shares of the company’s stock worth $1,497,931,000 after buying an additional 797,867 shares during the last quarter. Cypress Wealth Advisors LLC raised its stake in Hewlett Packard Enterprise by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 16,852 shares of the company’s stock worth $299,000 after buying an additional 48 shares during the last quarter. Finally, Hanlon Investment Management Inc. purchased a new stake in Hewlett Packard Enterprise during the first quarter worth $4,116,000. 80.51% of the stock is owned by institutional investors and hedge funds.
Hewlett Packard Enterprise Company Profile
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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