Hewlett Packard Enterprise (NYSE:HPE) Issues Earnings Results

Hewlett Packard Enterprise (NYSE:HPE) released its quarterly earnings data on Monday. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05, FiscalAI reports. Hewlett Packard Enterprise had a net margin of 0.17% and a return on equity of 9.15%. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.31 billion.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock traded up $0.69 during mid-day trading on Monday, reaching $21.82. 31,289,239 shares of the company’s stock traded hands, compared to its average volume of 17,138,963. The company has a market cap of $28.99 billion, a price-to-earnings ratio of -363.61, a PEG ratio of 0.58 and a beta of 1.31. The stock has a 50 day moving average of $22.16 and a two-hundred day moving average of $23.09. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.72. Hewlett Packard Enterprise has a 12-month low of $11.97 and a 12-month high of $26.44.

Insiders Place Their Bets

In other news, EVP Maeve C. Culloty sold 35,958 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $24.66, for a total transaction of $886,724.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F. Schultz sold 148,501 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.99, for a total transaction of $3,711,039.99. Following the completion of the transaction, the executive vice president directly owned 248,091 shares of the company’s stock, valued at approximately $6,199,794.09. The trade was a 37.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 471,861 shares of company stock worth $11,605,705. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Hewlett Packard Enterprise in the 2nd quarter worth approximately $26,000. IFC & Insurance Marketing Inc. bought a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at approximately $40,000. Quarry LP purchased a new stake in Hewlett Packard Enterprise during the 3rd quarter valued at $45,000. DV Equities LLC purchased a new stake in Hewlett Packard Enterprise during the 4th quarter valued at $45,000. Finally, Geneos Wealth Management Inc. lifted its position in Hewlett Packard Enterprise by 44.7% in the first quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company’s stock worth $69,000 after buying an additional 1,377 shares during the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HPE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hewlett Packard Enterprise in a research note on Friday, December 26th. Morgan Stanley dropped their price objective on shares of Hewlett Packard Enterprise from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. Argus raised their price objective on Hewlett Packard Enterprise from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group began coverage on Hewlett Packard Enterprise in a report on Tuesday, January 13th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Zacks Research upgraded Hewlett Packard Enterprise from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.29.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.