Hewlett Packard Enterprise Co. (HPE) Lifted to “Buy” at Zacks Investment Research
Hewlett Packard Enterprise Co. (NYSE:HPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $25.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.91% from the stock’s previous close.
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. “
HPE has been the topic of a number of other reports. Vetr raised shares of Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating and set a $25.36 price target on the stock in a report on Tuesday. Oppenheimer Holdings Inc. increased their price target on shares of Hewlett Packard Enterprise from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, July 14th. FBN Securities reissued an “outperform” rating on shares of Hewlett Packard Enterprise in a report on Thursday, September 8th. Mizuho upped their price objective on shares of Hewlett Packard Enterprise from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Finally, Credit Suisse Group AG upped their price objective on shares of Hewlett Packard Enterprise from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen 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 a consensus target price of $21.33.
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Shares of Hewlett Packard Enterprise (NYSE:HPE) traded down 1.26% on Wednesday, hitting $22.34. 9,363,568 shares of the stock were exchanged. The company has a market cap of $37.21 billion and a price-to-earnings ratio of 9.32. Hewlett Packard Enterprise has a 52-week low of $11.62 and a 52-week high of $23.53. The company has a 50 day moving average of $22.19 and a 200 day moving average of $19.40.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $12.64 billion. The firm’s revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that Hewlett Packard Enterprise will post $1.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, October 7th. Hewlett Packard Enterprise’s dividend payout ratio is currently 9.17%.
In other Hewlett Packard Enterprise news, CFO Timothy C. Stonesifer sold 101,610 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the completion of the transaction, the chief financial officer now owns 101,610 shares of the company’s stock, valued at $2,236,436.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $169,767.18. Following the transaction, the executive vice president now directly owns 18,033 shares of the company’s stock, valued at approximately $355,069.77. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Hewlett Packard Enterprise during the second quarter valued at approximately $100,000. Citizens Financial Group Inc RI raised its position in shares of Hewlett Packard Enterprise by 22.6% in the first quarter. Citizens Financial Group Inc RI now owns 5,809 shares of the company’s stock valued at $103,000 after buying an additional 1,069 shares in the last quarter. MCF Advisors LLC raised its position in shares of Hewlett Packard Enterprise by 79.7% in the second quarter. MCF Advisors LLC now owns 5,640 shares of the company’s stock valued at $103,000 after buying an additional 2,501 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in shares of Hewlett Packard Enterprise by 2.5% in the second quarter. Ropes Wealth Advisors LLC now owns 7,977 shares of the company’s stock valued at $146,000 after buying an additional 195 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of Hewlett Packard Enterprise by 18.0% in the second quarter. Cedar Wealth Management LLC now owns 8,211 shares of the company’s stock valued at $150,000 after buying an additional 1,251 shares in the last quarter. 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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