Hewlett Packard Enterprise Co (HPE) Lifted to Buy at Credit Suisse Group AG
Hewlett Packard Enterprise Co (NYSE:HPE) was upgraded by stock analysts at Credit Suisse Group AG to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $21.00 target price on the technology company’s stock. Credit Suisse Group AG’s price target would suggest a potential upside of 11.76% from the company’s previous close.
HPE has been the topic of several other reports. Tigress Financial began coverage on Hewlett Packard Enterprise in a report on Monday, April 17th. They issued a “neutral” rating on the stock. Barclays PLC dropped their target price on Hewlett Packard Enterprise from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, May 10th. Zacks Investment Research raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, January 24th. Mizuho reissued a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Hewlett Packard Enterprise in a report on Sunday, April 9th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $27.00 target price on shares of Hewlett Packard Enterprise in a report on Friday, February 24th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Hewlett Packard Enterprise has a consensus rating of “Hold” and an average target price of $22.83.
Hewlett Packard Enterprise (NYSE:HPE) traded up 0.16% during midday trading on Tuesday, reaching $18.82. The company had a trading volume of 3,166,479 shares. The stock has a market capitalization of $31.20 billion, a PE ratio of 10.21 and a beta of 3.05. The company has a 50-day moving average of $18.49 and a 200-day moving average of $22.06. Hewlett Packard Enterprise has a 12-month low of $15.99 and a 12-month high of $19.16. Hewlett Packard Enterprise also was the target of unusually large options trading on Monday. Stock traders bought 5,446 put options on the stock. This is an increase of 695% compared to the typical daily volume of 685 put options.
Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Thursday, February 23rd. The technology company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Hewlett Packard Enterprise had a return on equity of 10.43% and a net margin of 6.31%. The business had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts predict that Hewlett Packard Enterprise will post $1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, June 12th. Hewlett Packard Enterprise’s payout ratio is 14.21%.
In other Hewlett Packard Enterprise news, EVP Christopher P. Hsu sold 31,421 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $23.50, for a total value of $738,393.50. Following the completion of the sale, the executive vice president now owns 31,422 shares in the company, valued at $738,417. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John F. Schultz sold 17,176 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $24.00, for a total value of $412,224.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,625,188 shares of company stock valued at $35,864,938. Company insiders own 0.87% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Park National bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $424,000. Nexus Investment Management bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $6,390,000. Beacon Capital Management bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $0. Tirschwell & Loewy bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $492,000. Finally, Edge Wealth Management bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $452,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, 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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