Hewlett Packard Enterprise (NYSE:HPE) Posts Earnings Results, Beats Expectations By $0.03 EPS

Hewlett Packard Enterprise (NYSE:HPE) issued its earnings results on Thursday. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03, FiscalAI reports. The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.91 billion. Hewlett Packard Enterprise had a net margin of 3.77% and a return on equity of 9.01%.

Hewlett Packard Enterprise Stock Up 2.9%

Shares of NYSE:HPE traded up $0.65 on Thursday, hitting $22.91. 30,515,017 shares of the company traded hands, compared to its average volume of 22,275,686. Hewlett Packard Enterprise has a 52 week low of $11.97 and a 52 week high of $26.44. The stock has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $21.57. The company has a market cap of $30.22 billion, a PE ratio of 27.93, a PEG ratio of 0.88 and a beta of 1.34. The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 0.69.

Insiders Place Their Bets

In other news, CEO Antonio F. Neri sold 166,666 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $25.03, for a total value of $4,171,649.98. Following the completion of the transaction, the chief executive officer owned 1,585,726 shares in the company, valued at $39,690,721.78. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary M. Reiner sold 40,000 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $24.58, for a total value of $983,200.00. Following the completion of the sale, the director owned 83,869 shares of the company’s stock, valued at $2,061,500.02. The trade was a 32.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 210,404 shares of company stock valued at $5,248,749. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of Hewlett Packard Enterprise by 317.3% in the first quarter. Empowered Funds LLC now owns 149,810 shares of the technology company’s stock worth $2,312,000 after purchasing an additional 113,906 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Hewlett Packard Enterprise by 44.7% during the first quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company’s stock worth $69,000 after purchasing an additional 1,377 shares in the last quarter. Brown Advisory Inc. raised its stake in Hewlett Packard Enterprise by 4.4% during the 2nd quarter. Brown Advisory Inc. now owns 23,593 shares of the technology company’s stock valued at $482,000 after purchasing an additional 996 shares during the period. Jump Financial LLC lifted its holdings in Hewlett Packard Enterprise by 25.8% in the 2nd quarter. Jump Financial LLC now owns 15,662 shares of the technology company’s stock worth $320,000 after purchasing an additional 3,215 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Hewlett Packard Enterprise in the 2nd quarter worth approximately $207,000. 80.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HPE has been the subject of a number of analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $25.00 target price (down from $28.00) on shares of Hewlett Packard Enterprise in a report on Monday, November 17th. Zacks Research cut Hewlett Packard Enterprise from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Sanford C. Bernstein initiated coverage on Hewlett Packard Enterprise in a research note on Tuesday, September 16th. They set a “market perform” rating and a $24.00 target price on the stock. The Goldman Sachs Group upped their target price on Hewlett Packard Enterprise from $27.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Hewlett Packard Enterprise from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.24.

About Hewlett Packard Enterprise

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.