Hewlett Packard Enterprise (HPE) Price Target Cut to $21.00 by Analysts at Raymond James

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Hewlett Packard Enterprise (NYSE:HPE) had its target price cut by Raymond James from $24.00 to $21.00 in a research report report published on Wednesday morning. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also weighed in on the company. ValuEngine lowered Hewlett Packard Enterprise from a buy rating to a hold rating in a research report on Wednesday, May 2nd. OTR Global raised Hewlett Packard Enterprise to a positive rating in a research report on Thursday, May 17th. BMO Capital Markets reaffirmed a hold rating and set a $19.00 price target on shares of Hewlett Packard Enterprise in a research report on Tuesday, May 22nd. Maxim Group reaffirmed a hold rating and set a $18.00 price target on shares of Hewlett Packard Enterprise in a research report on Wednesday, May 23rd. Finally, Barclays reaffirmed a sell rating on shares of Hewlett Packard Enterprise in a research report on Wednesday, May 23rd. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $17.22.

NYSE HPE opened at $16.71 on Wednesday. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.20 and a beta of 1.75. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.42. Hewlett Packard Enterprise has a 52 week low of $12.81 and a 52 week high of $19.48.

Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Tuesday, August 28th. The technology company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.25% and a net margin of 9.36%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. equities analysts expect that Hewlett Packard Enterprise will post 1.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 12th will be issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Tuesday, September 11th. Hewlett Packard Enterprise’s payout ratio is presently 46.88%.

In related news, insider Antonio F. Neri sold 36,556 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $16.50, for a total transaction of $603,174.00. Following the transaction, the insider now directly owns 170,721 shares of the company’s stock, valued at approximately $2,816,896.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret C. Whitman sold 674,500 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $15.89, for a total value of $10,717,805.00. Following the transaction, the director now directly owns 2,169,760 shares in the company, valued at $34,477,486.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,926,991 shares of company stock worth $61,107,962 over the last three months. 1.18% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HPE. Morgan Stanley grew its holdings in Hewlett Packard Enterprise by 429.8% in the 2nd quarter. Morgan Stanley now owns 9,860,955 shares of the technology company’s stock valued at $144,068,000 after buying an additional 7,999,613 shares in the last quarter. Prudential Financial Inc. grew its holdings in Hewlett Packard Enterprise by 196.3% in the 1st quarter. Prudential Financial Inc. now owns 8,753,931 shares of the technology company’s stock valued at $153,544,000 after buying an additional 5,799,831 shares in the last quarter. Boston Partners grew its holdings in Hewlett Packard Enterprise by 67.2% in the 2nd quarter. Boston Partners now owns 13,969,750 shares of the technology company’s stock valued at $204,098,000 after buying an additional 5,615,283 shares in the last quarter. LSV Asset Management grew its holdings in Hewlett Packard Enterprise by 44.5% in the 2nd quarter. LSV Asset Management now owns 15,752,632 shares of the technology company’s stock valued at $230,145,000 after buying an additional 4,848,200 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Hewlett Packard Enterprise by 2,277.0% in the 1st quarter. Millennium Management LLC now owns 3,824,026 shares of the technology company’s stock valued at $67,073,000 after buying an additional 3,663,150 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers, as well as mission-critical servers to address the full array of its customers' computing needs; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and legacy external disk products.

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Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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