$7.70 Billion in Sales Expected for Hewlett Packard Enterprise Company (HPE) This Quarter
Wall Street brokerages expect Hewlett Packard Enterprise Company (NYSE:HPE) to announce sales of $7.70 billion for the current quarter, according to Zacks. Seven analysts have made estimates for Hewlett Packard Enterprise’s earnings. The highest sales estimate is $7.94 billion and the lowest is $7.50 billion. Hewlett Packard Enterprise posted sales of $12.48 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 38.3%. The firm is expected to issue its next earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Hewlett Packard Enterprise will report full year sales of $7.70 billion for the current financial year, with estimates ranging from $34.56 billion to $37.35 billion. For the next year, analysts expect that the business will report sales of $29.42 billion per share, with estimates ranging from $28.64 billion to $31.35 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Hewlett Packard Enterprise.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.49 billion. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share.
HPE has been the subject of several research reports. BidaskClub downgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reduced their price target on shares of Hewlett Packard Enterprise from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 6th. Jefferies Group LLC reissued a “buy” rating and issued a $22.00 price target on shares of Hewlett Packard Enterprise in a research report on Saturday, July 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a research report on Wednesday, July 12th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and issued a $21.00 price target on shares of Hewlett Packard Enterprise in a research report on Monday, June 5th. Four 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 company. Hewlett Packard Enterprise presently has an average rating of “Hold” and an average target price of $19.03.
Shares of Hewlett Packard Enterprise (HPE) opened at 13.48 on Friday. The stock has a 50 day moving average of $13.61 and a 200-day moving average of $13.66. Hewlett Packard Enterprise has a 12 month low of $12.26 and a 12 month high of $14.86. The company has a market cap of $22.15 billion, a price-to-earnings ratio of 10.22 and a beta of 2.72.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, September 12th. Hewlett Packard Enterprise’s payout ratio is 371.48%.
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In related news, CEO Margaret C. Whitman sold 249,052 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $13.14, for a total value of $3,272,543.28. Following the sale, the chief executive officer now directly owns 892,118 shares in the company, valued at approximately $11,722,430.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher P. Hsu sold 15,333 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $17.67, for a total value of $270,934.11. Following the completion of the sale, the executive vice president now owns 15,333 shares in the company, valued at $270,934.11. The disclosure for this sale can be found here. Insiders sold a total of 2,212,729 shares of company stock worth $37,471,052 over the last 90 days. 0.87% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in HPE. Bank of New York Mellon Corp raised its stake in Hewlett Packard Enterprise by 16.4% in the 1st quarter. Bank of New York Mellon Corp now owns 19,552,733 shares of the technology company’s stock valued at $463,399,000 after acquiring an additional 2,759,981 shares during the period. Suntrust Banks Inc. raised its stake in Hewlett Packard Enterprise by 50.2% in the 1st quarter. Suntrust Banks Inc. now owns 319,419 shares of the technology company’s stock valued at $7,568,000 after acquiring an additional 106,795 shares during the period. Xact Kapitalforvaltning AB raised its stake in Hewlett Packard Enterprise by 2.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 265,966 shares of the technology company’s stock valued at $6,303,000 after acquiring an additional 7,561 shares during the period. Pictet Asset Management Ltd. raised its stake in Hewlett Packard Enterprise by 14.4% in the 1st quarter. Pictet Asset Management Ltd. now owns 994,401 shares of the technology company’s stock valued at $23,568,000 after acquiring an additional 124,801 shares during the period. Finally, LS Investment Advisors LLC raised its stake in Hewlett Packard Enterprise by 13.5% in the 1st quarter. LS Investment Advisors LLC now owns 54,220 shares of the technology company’s stock valued at $1,285,000 after acquiring an additional 6,448 shares during the period. Institutional investors and hedge funds own 80.21% of the company’s stock.
Hewlett Packard Enterprise Company Profile
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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