Brokerages expect Hewlett Packard Enterprise Co (NYSE:HPE) to announce $7.34 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Hewlett Packard Enterprise’s earnings. The lowest sales estimate is $7.23 billion and the highest is $7.45 billion. Hewlett Packard Enterprise reported sales of $7.76 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 5.4%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, August 27th.
On average, analysts expect that Hewlett Packard Enterprise will report full year sales of $29.75 billion for the current fiscal year, with estimates ranging from $29.39 billion to $29.93 billion. For the next fiscal year, analysts expect that the company will report sales of $30.11 billion, with estimates ranging from $29.73 billion to $30.78 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Hewlett Packard Enterprise.
Hewlett Packard Enterprise (NYSE:HPE) last issued its earnings results on Thursday, May 23rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $7.15 billion during the quarter, compared to analyst estimates of $7.38 billion. Hewlett Packard Enterprise had a return on equity of 12.32% and a net margin of 0.95%. Hewlett Packard Enterprise’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share.
Several brokerages have issued reports on HPE. Maxim Group set a $17.00 target price on Hewlett Packard Enterprise and gave the stock a “hold” rating in a research note on Friday, August 2nd. Nomura cut their target price on Hewlett Packard Enterprise from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Barclays began coverage on Hewlett Packard Enterprise in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $14.00 target price for the company. Longbow Research began coverage on Hewlett Packard Enterprise in a research note on Friday, June 21st. They issued a “neutral” rating and a $15.00 target price for the company. Finally, Zacks Investment Research raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Hewlett Packard Enterprise currently has an average rating of “Hold” and a consensus price target of $16.21.
HPE traded down $0.50 during midday trading on Friday, hitting $12.75. The stock had a trading volume of 10,735,960 shares, compared to its average volume of 9,541,463. The company has a market cap of $17.74 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.28 and a beta of 1.58. The business has a fifty day moving average of $14.04 and a 200 day moving average of $15.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.80 and a current ratio of 0.93. Hewlett Packard Enterprise has a 1 year low of $12.09 and a 1 year high of $17.59.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Tuesday, September 10th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 28.85%.
In related news, insider Irv Rothman sold 84,629 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $13.85, for a total transaction of $1,172,111.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip Davis sold 16,412 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $14.33, for a total value of $235,183.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,129 shares of company stock valued at $1,558,212. Insiders own 0.56% of the company’s stock.
Several institutional investors have recently made changes to their positions in HPE. Mackenzie Financial Corp raised its holdings in Hewlett Packard Enterprise by 1,330.3% in the second quarter. Mackenzie Financial Corp now owns 326,133 shares of the technology company’s stock worth $4,876,000 after purchasing an additional 303,332 shares in the last quarter. Nomura Holdings Inc. raised its holdings in Hewlett Packard Enterprise by 38.6% in the second quarter. Nomura Holdings Inc. now owns 18,551 shares of the technology company’s stock worth $281,000 after purchasing an additional 5,164 shares in the last quarter. BlackRock Inc. raised its holdings in Hewlett Packard Enterprise by 7.7% in the second quarter. BlackRock Inc. now owns 98,230,773 shares of the technology company’s stock worth $1,468,550,000 after purchasing an additional 7,054,145 shares in the last quarter. Sage Rhino Capital LLC bought a new position in Hewlett Packard Enterprise in the second quarter worth $1,441,000. Finally, Cresset Asset Management LLC raised its holdings in Hewlett Packard Enterprise by 650.5% in the second quarter. Cresset Asset Management LLC now owns 11,701 shares of the technology company’s stock worth $176,000 after purchasing an additional 10,142 shares in the last quarter. Institutional investors own 79.23% of the company’s stock.
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 for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.
Read More: Momentum Investing
Get a free copy of the Zacks research report on Hewlett Packard Enterprise (HPE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hewlett Packard Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hewlett Packard Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.