Hewlett Packard Enterprise (NYSE:HPE) Updates Q3 2024 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPE) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.430-0.480 for the period, compared to the consensus earnings per share estimate of 0.470. The company issued revenue guidance of $7.4 billion-$7.8 billion, compared to the consensus revenue estimate of $7.5 billion. Hewlett Packard Enterprise also updated its FY 2024 guidance to 1.850-1.950 EPS.

Hewlett Packard Enterprise Price Performance

NYSE:HPE traded down $0.35 during mid-day trading on Tuesday, reaching $17.60. The stock had a trading volume of 27,589,525 shares, compared to its average volume of 14,525,243. The firm has a 50 day moving average price of $17.55 and a two-hundred day moving average price of $16.72. The stock has a market capitalization of $22.88 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.27 and a beta of 1.18. Hewlett Packard Enterprise has a one year low of $14.47 and a one year high of $20.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.89.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Hewlett Packard Enterprise will post 1.4 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, June 19th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.95%. Hewlett Packard Enterprise’s payout ratio is currently 35.86%.

Analyst Ratings Changes

HPE has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Barclays decreased their target price on Hewlett Packard Enterprise from $15.00 to $14.00 and set an equal weight rating for the company in a report on Friday, March 1st. Stifel Nicolaus decreased their target price on Hewlett Packard Enterprise from $20.00 to $18.00 and set a buy rating for the company in a report on Friday, March 1st. Morgan Stanley upped their target price on Hewlett Packard Enterprise from $16.00 to $19.00 and gave the company an equal weight rating in a report on Monday, April 15th. Finally, StockNews.com downgraded Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Saturday, April 27th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $18.20.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 18,323 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total value of $310,758.08. Following the sale, the senior vice president now directly owns 15,541 shares of the company’s stock, valued at $263,575.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.