Hewlett Packard Enterprise Co. (HPE) Price Target Increased to $26.00 by Analysts at Needham & Company LLC
Hewlett Packard Enterprise Co. (NYSE:HPE) had its target price upped by investment analysts at Needham & Company LLC from $24.00 to $26.00 in a report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 21.10% from the company’s previous close.
HPE has been the topic of a number of other research reports. Citigroup Inc. raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $25.00 in a report on Monday, July 25th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating on shares of Hewlett Packard Enterprise in a report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and set a $24.50 price objective on shares of Hewlett Packard Enterprise in a report on Tuesday, September 20th. Raymond James Financial Inc. initiated coverage on Hewlett Packard Enterprise in a report on Wednesday, August 17th. They set a “market perform” rating and a $22.07 price objective on the stock. Finally, Oppenheimer Holdings Inc. set a $25.00 price objective on Hewlett Packard Enterprise and gave the stock a “buy” rating in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.68.
Hewlett Packard Enterprise (NYSE:HPE) opened at 21.47 on Wednesday. Hewlett Packard Enterprise has a 1-year low of $11.62 and a 1-year high of $23.53. The company has a market cap of $35.76 billion and a PE ratio of 8.96. The stock has a 50 day moving average price of $22.18 and a 200 day moving average price of $19.62.
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Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.04. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.64 billion. Hewlett Packard Enterprise had a return on equity of 10.15% and a net margin of 8.31%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts forecast that Hewlett Packard Enterprise will post $1.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 12th will be issued a dividend of $0.055 per share. The ex-dividend date is Friday, October 7th. This represents a $0.22 dividend on an annualized basis and a yield of 1.02%. Hewlett Packard Enterprise’s payout ratio is 9.17%.
In related news, EVP Antonio F. Neri sold 11,781 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $22.68, for a total transaction of $267,193.08. Following the completion of the sale, the executive vice president now owns 4,936 shares in the company, valued at approximately $111,948.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael G. Nefkens sold 107,500 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $22.00, for a total transaction of $2,365,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Hewlett Packard Enterprise during the second quarter worth $100,000. Citizens Financial Group Inc RI raised its stake 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 worth $103,000 after buying an additional 1,069 shares during the last quarter. MCF Advisors LLC raised its stake 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 worth $103,000 after buying an additional 2,501 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake 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 worth $146,000 after buying an additional 195 shares during the last quarter. Finally, Cedar Wealth Management LLC raised its stake in 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. Institutional investors own 80.50% of the company’s stock.
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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