Hewlett Packard Enterprise Company (HPE) Forecasted to Post Q3 2018 Earnings of $0.38 Per Share
Hewlett Packard Enterprise Company (NYSE:HPE) – Stock analysts at KeyCorp upped their Q3 2018 earnings per share estimates for shares of Hewlett Packard Enterprise in a research note issued on Wednesday. KeyCorp analyst A. Kurtz now forecasts that the technology company will post earnings of $0.38 per share for the quarter, up from their previous estimate of $0.37. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Hewlett Packard Enterprise’s Q4 2018 earnings at $0.38 EPS, FY2018 earnings at $1.18 EPS and FY2019 earnings at $1.29 EPS.
A number of other brokerages have also issued reports on HPE. UBS AG lowered shares of Hewlett Packard Enterprise from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Friday. Mizuho restated a “hold” rating and issued a $14.00 price target on shares of Hewlett Packard Enterprise in a research note on Friday. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $17.00 price target on shares of Hewlett Packard Enterprise in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $16.00 price target on shares of Hewlett Packard Enterprise in a research note on Thursday. Finally, TheStreet upgraded shares of Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Hewlett Packard Enterprise has an average rating of “Hold” and a consensus price target of $17.79.
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Shares of Hewlett Packard Enterprise (HPE) traded up 1.30% during midday trading on Friday, hitting $14.04. 12,460,337 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $14.23 and its 200-day moving average is $13.88. The stock has a market cap of $22.74 billion, a PE ratio of 195.00 and a beta of 2.71. Hewlett Packard Enterprise has a 1-year low of $12.26 and a 1-year high of $15.12.
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, beating the Zacks’ consensus estimate of $0.26 by $0.04. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%. The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp acquired a new stake in Hewlett Packard Enterprise in the second quarter worth about $2,193,000. Parallel Advisors LLC lifted its holdings in Hewlett Packard Enterprise by 11.6% in the first quarter. Parallel Advisors LLC now owns 10,562 shares of the technology company’s stock worth $197,000 after purchasing an additional 1,095 shares during the period. Synovus Financial Corp lifted its holdings in Hewlett Packard Enterprise by 11.5% in the second quarter. Synovus Financial Corp now owns 254,871 shares of the technology company’s stock worth $4,226,000 after purchasing an additional 26,288 shares during the period. BlackRock Inc. lifted its holdings in Hewlett Packard Enterprise by 2,713.7% in the first quarter. BlackRock Inc. now owns 99,450,412 shares of the technology company’s stock worth $2,356,975,000 after purchasing an additional 95,915,907 shares during the period. Finally, Motco lifted its holdings in Hewlett Packard Enterprise by 929.3% in the second quarter. Motco now owns 10,633 shares of the technology company’s stock worth $176,000 after purchasing an additional 9,600 shares during the period. 81.34% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Henry Gomez sold 494,360 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $14.87, for a total value of $7,351,133.20. Following the completion of the sale, the executive vice president now owns 494,360 shares of the company’s stock, valued at $7,351,133.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Margaret C. Whitman sold 389,668 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $17.82, for a total transaction of $6,943,883.76. Following the completion of the sale, the chief executive officer now directly owns 962,433 shares of the company’s stock, valued at approximately $17,150,556.06. The disclosure for this sale can be found here. Insiders have sold 3,655,534 shares of company stock valued at $55,953,330 in the last 90 days. Insiders own 0.87% of the company’s stock.
Hewlett Packard Enterprise announced that its board has authorized a stock repurchase program on Wednesday, October 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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