Hewlett Packard Enterprise (NYSE:HPE) Issues Q4 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPE) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.52-0.57 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $8.10-8.40 billion, compared to the consensus revenue estimate of $8.16 billion. Hewlett Packard Enterprise also updated its FY 2024 guidance to 1.920-1.970 EPS.

Analysts Set New Price Targets

HPE has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an in-line rating in a research report on Wednesday, June 5th. Argus raised shares of Hewlett Packard Enterprise from a hold rating to a buy rating and set a $26.00 price target for the company in a report on Friday, June 7th. StockNews.com raised shares of Hewlett Packard Enterprise from a hold rating to a buy rating in a report on Wednesday, June 5th. Sanford C. Bernstein boosted their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a market perform rating in a research note on Wednesday, June 5th. Finally, Barclays raised their price target on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of Hold and a consensus target price of $21.18.

Hewlett Packard Enterprise Price Performance

HPE stock opened at $18.76 on Thursday. Hewlett Packard Enterprise has a 52-week low of $14.47 and a 52-week high of $22.82. The company has a quick ratio of 0.59, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a market cap of $24.38 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 2.80 and a beta of 1.20. The business has a fifty day moving average of $19.52 and a two-hundred day moving average of $18.45.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period last year, the company earned $0.35 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Hewlett Packard Enterprise will post 1.59 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, September 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. Hewlett Packard Enterprise’s payout ratio is currently 37.96%.

Insider Activity at Hewlett Packard Enterprise

In related news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $21.67, for a total value of $493,729.28. Following the sale, the chief executive officer now owns 57,081 shares in the company, valued at approximately $1,236,945.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 36,671 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $20.51, for a total value of $752,122.21. Following the completion of the transaction, the executive vice president now owns 111,054 shares of the company’s stock, valued at approximately $2,277,717.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerri Gold sold 22,784 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $21.67, for a total value of $493,729.28. Following the sale, the chief executive officer now directly owns 57,081 shares in the company, valued at approximately $1,236,945.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,141 shares of company stock worth $1,874,608. Insiders own 0.40% of the company’s stock.

Hewlett Packard Enterprise Company Profile

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. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.