Hewlett Packard Enterprise (NYSE:HPE) Updates Q4 2022 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPEGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.52-$0.60 for the period, compared to the consensus earnings per share estimate of $0.58. The company issued revenue guidance of -. Hewlett Packard Enterprise also updated its FY 2022 guidance to $1.96-$2.04 EPS.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE traded down $0.43 during midday trading on Friday, hitting $11.97. The stock had a trading volume of 226,426 shares, compared to its average volume of 12,761,078. The company’s 50-day moving average price is $13.87 and its 200-day moving average price is $14.78. The company has a market capitalization of $15.40 billion, a P/E ratio of 4.43, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15. The company has a quick ratio of 0.66, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. Hewlett Packard Enterprise has a fifty-two week low of $12.34 and a fifty-two week high of $17.76.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last announced its quarterly earnings results on Tuesday, August 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.97 billion. Hewlett Packard Enterprise had a net margin of 13.31% and a return on equity of 18.25%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, equities research analysts predict that Hewlett Packard Enterprise will post 1.28 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Monday, September 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, September 9th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 17.14%.

Analysts Set New Price Targets

A number of research firms have weighed in on HPE. Morgan Stanley reduced their target price on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and set an underweight rating on the stock in a report on Wednesday, August 31st. Raymond James reissued an outperform rating and set a $19.00 target price (down from $20.00) on shares of Hewlett Packard Enterprise in a report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hewlett Packard Enterprise from $16.00 to $15.00 and set a hold rating on the stock in a report on Wednesday, August 31st. JPMorgan Chase & Co. reduced their target price on shares of Hewlett Packard Enterprise from $18.00 to $16.00 and set an overweight rating on the stock in a report on Thursday, July 14th. Finally, StockNews.com lowered shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Sunday, September 4th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of Hold and an average price target of $16.59.

Insider Activity at Hewlett Packard Enterprise

In related news, CEO Irv Rothman sold 70,115 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $13.33, for a total transaction of $934,632.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of Hewlett Packard Enterprise by 2.8% during the 1st quarter. International Assets Investment Management LLC now owns 29,846 shares of the technology company’s stock valued at $499,000 after acquiring an additional 808 shares during the period. Forum Financial Management LP raised its holdings in Hewlett Packard Enterprise by 4.5% during the first quarter. Forum Financial Management LP now owns 19,650 shares of the technology company’s stock worth $328,000 after buying an additional 841 shares during the last quarter. First Manhattan Co. raised its holdings in Hewlett Packard Enterprise by 89.4% during the first quarter. First Manhattan Co. now owns 2,413 shares of the technology company’s stock worth $40,000 after buying an additional 1,139 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Hewlett Packard Enterprise by 3.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 40,766 shares of the technology company’s stock worth $541,000 after buying an additional 1,250 shares during the last quarter. Finally, SVB Wealth LLC raised its holdings in Hewlett Packard Enterprise by 2.5% during the second quarter. SVB Wealth LLC now owns 53,067 shares of the technology company’s stock worth $704,000 after buying an additional 1,276 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Hewlett Packard Enterprise Company Profile

(Get Rating)

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

Further Reading

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