Gabelli Analysts Lift Earnings Estimates for Hewlett Packard Enterprise Company (HPE)
Hewlett Packard Enterprise Company (NYSE:HPE) – Investment analysts at Gabelli boosted their FY2019 earnings estimates for shares of Hewlett Packard Enterprise in a research report issued to clients and investors on Thursday. Gabelli analyst H. Susanto now forecasts that the technology company will post earnings of $1.30 per share for the year, up from their previous forecast of $1.20. Gabelli also issued estimates for Hewlett Packard Enterprise’s FY2020 earnings at $1.35 EPS and FY2021 earnings at $1.45 EPS.
Several other analysts have also recently issued reports on the company. Deutsche Bank AG dropped their target price on Hewlett Packard Enterprise from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $15.00 target price (down previously from $20.00) on shares of Hewlett Packard Enterprise in a research report on Friday, September 1st. BidaskClub cut Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. ValuEngine raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.79.
Hewlett Packard Enterprise (NYSE HPE) opened at 14.04 on Monday. Hewlett Packard Enterprise has a 52 week low of $12.97 and a 52 week high of $19.16. The firm’s 50-day moving average price is $14.23 and its 200-day moving average price 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 (NYSE:HPE) last announced its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Hewlett Packard Enterprise had a return on equity of 9.04% and a net margin of 0.29%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share.
Hewlett Packard Enterprise announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Hewlett Packard Enterprise news, CEO Margaret C. Whitman sold 249,052 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $13.14, for a total transaction of $3,272,543.28. Following the sale, the chief executive officer now directly owns 892,118 shares of the company’s stock, valued at approximately $11,722,430.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry Gomez sold 494,360 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $14.87, for a total value of $7,351,133.20. Following the sale, the executive vice president now directly owns 494,360 shares in the company, valued at $7,351,133.20. The disclosure for this sale can be found here. Insiders sold a total of 3,655,534 shares of company stock valued at $55,953,330 in the last 90 days. 0.87% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Harfst & Associates Inc. acquired a new stake in Hewlett Packard Enterprise during the 1st quarter worth about $127,000. WFG Advisors LP grew its position in Hewlett Packard Enterprise by 15.3% during the 2nd quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock worth $100,000 after purchasing an additional 801 shares during the period. Guardian Life Insurance Co. of America grew its position in Hewlett Packard Enterprise by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 6,427 shares of the technology company’s stock worth $152,000 after purchasing an additional 43 shares during the period. YorkBridge Wealth Partners LLC grew its position in Hewlett Packard Enterprise by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock worth $108,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Hewlett Packard Enterprise by 4.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock worth $111,000 after purchasing an additional 266 shares during the period. 81.34% of the stock is currently owned by institutional investors.
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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