Hewlett Packard Enterprise Co. (HPE) Earns “Outperform” Rating from Sanford C. Bernstein
Hewlett Packard Enterprise Co. (NYSE:HPE)‘s stock had its “outperform” rating reissued by equities researchers at Sanford C. Bernstein in a note issued to investors on Tuesday. They presently have a $24.50 target price on the stock. Sanford C. Bernstein’s target price points to a potential upside of 8.02% from the company’s current price.
Several other analysts also recently commented on HPE. Mizuho increased their price objective on Hewlett Packard Enterprise from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 25th. FBN Securities upped their target price on Hewlett Packard Enterprise from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, May 25th. Needham & Company LLC raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, May 25th. Jefferies Group reaffirmed a “buy” rating and issued a $25.50 target price (up from $24.00) on shares of Hewlett Packard Enterprise in a report on Tuesday, July 5th. Finally, Wells Fargo & Co. lowered Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.05.
Shares of Hewlett Packard Enterprise (NYSE:HPE) opened at 22.68 on Tuesday. The firm has a market capitalization of $37.77 billion and a PE ratio of 9.46. The company’s 50-day moving average price is $21.73 and its 200 day moving average price is $18.80. Hewlett Packard Enterprise has a 12-month low of $11.62 and a 12-month high of $23.00.
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Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.49 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 the consensus estimate of $12.64 billion. Hewlett Packard Enterprise had a return on equity of 10.15% and a net margin of 8.31%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Hewlett Packard Enterprise will post $1.92 earnings per share for the current year.
In other Hewlett Packard Enterprise news, EVP Robert Youngjohns sold 8,622 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $19.69, for a total transaction of $169,767.18. Following the sale, the executive vice president now owns 18,033 shares in the company, valued at $355,069.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael G. Nefkens sold 107,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $22.00, for a total value of $2,365,000.00. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its stake in Hewlett Packard Enterprise by 3.0% in the first quarter. Dodge & Cox now owns 224,069,718 shares of the company’s stock worth $3,972,756,000 after buying an additional 6,540,190 shares during the last quarter. Sound Shore Management Inc. CT bought a new position in shares of Hewlett Packard Enterprise during the first quarter worth about $114,704,000. Primecap Management Co. CA boosted its position in shares of 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 period. UBS Asset Management Americas Inc. boosted its position in shares of Hewlett Packard Enterprise by 80.5% in the second quarter. UBS Asset Management Americas Inc. now owns 9,764,375 shares of the company’s stock worth $178,395,000 after buying an additional 4,354,541 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Hewlett Packard Enterprise by 282.2% in the second quarter. Marshall Wace LLP now owns 4,684,407 shares of the company’s stock worth $85,584,000 after buying an additional 3,458,745 shares during the period. Institutional investors and hedge funds own 81.18% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company (Hewlett Packard Enterprise) is engaged in offering information technology (IT) and enterprise services solutions. The Company focuses on technology solutions, which enables the customers to build cloud-enabled, mobile-ready solutions that is suited to their needs. The Company’s portfolio includes enterprise services, software and financial services businesses.
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