Hewlett Packard Enterprise Company (HPE) Upgraded at Zacks Investment Research

Hewlett Packard Enterprise Company (HPE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Hewlett Packard Enterprise Company (NYSE:HPE) from a hold rating to a buy rating in a report published on Tuesday morning. The firm currently has $26.00 price objective on the stock.

According to Zacks, “Hewlett Packard Enterprise offers technology solutions to business and public sector enterprises. A look at Hewlett Packard’s one year price performance shows that the company has outperformed the Zacks categorized Computer-Integrated Systems industry. The company’s massive restructuring initiatives toward focusing on high margin businesses such as, IoT, server, storage and Big Data is encouraging. On the one hand, it is offloading low margin business such as Software, which in our opinion will improvise the company’s margins over the long run. On the other hand, it is enhancing its capabilities in the hybrid IT model as evident from the company’s recent agreements to acquire SimpliVity and Cloud Cruiser. We believe that the company’s focus on hybrid IT model will drive growth in the long run. However, competition, macroeconomic challenges and declining server shipments remain near-term concerns.”

A number of other research analysts have also recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $25.00 price objective on shares of Hewlett Packard Enterprise Company in a research note on Sunday, October 16th. Vetr raised shares of Hewlett Packard Enterprise Company from a buy rating to a strong-buy rating and set a $25.36 target price for the company in a research note on Monday, October 10th. Raymond James Financial, Inc. reaffirmed an outperform rating on shares of Hewlett Packard Enterprise Company in a research note on Thursday, January 19th. Wells Fargo & Company reaffirmed a market perform rating on shares of Hewlett Packard Enterprise Company in a research note on Friday, November 11th. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $26.00 target price on shares of Hewlett Packard Enterprise Company in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $23.58.

Hewlett Packard Enterprise Company (NYSE:HPE) traded up 0.09% during midday trading on Tuesday, hitting $22.64. The stock had a trading volume of 2,120,062 shares. The stock has a 50-day moving average price of $23.34 and a 200 day moving average price of $22.34. Hewlett Packard Enterprise Company has a 12-month low of $12.02 and a 12-month high of $24.79. The firm has a market cap of $37.69 billion, a P/E ratio of 12.44 and a beta of 3.14.

Hewlett Packard Enterprise Company (NYSE:HPE) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Hewlett Packard Enterprise Company had a net margin of 6.31% and a return on equity of 10.43%. The business earned $12.50 billion during the quarter, compared to analysts’ expectations of $12.85 billion. During the same period last year, the company posted $0.52 EPS. The company’s revenue was down 7.2% on a year-over-year basis. On average, equities analysts anticipate that Hewlett Packard Enterprise Company will post $2.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, March 13th. Hewlett Packard Enterprise Company’s payout ratio is currently 14.21%.

In other news, SVP Jeff T. Ricci sold 4,999 shares of the business’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $23.46, for a total value of $117,276.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kirt P. Karros sold 3,191 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $23.75, for a total transaction of $75,786.25. The disclosure for this sale can be found here. Insiders sold a total of 660,581 shares of company stock valued at $15,271,867 in the last three months. Insiders own 0.57% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Hewlett Packard Enterprise Company by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 44,505,637 shares of the company’s stock worth $813,118,000 after buying an additional 329,761 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Hewlett Packard Enterprise Company by 8.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 27,055,545 shares of the company’s stock worth $494,305,000 after buying an additional 2,126,559 shares in the last quarter. FMR LLC increased its stake in shares of Hewlett Packard Enterprise Company by 7.0% in the second quarter. FMR LLC now owns 24,762,003 shares of the company’s stock worth $452,402,000 after buying an additional 1,609,232 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Hewlett Packard Enterprise Company by 4.6% in the third quarter. BlackRock Fund Advisors now owns 20,919,461 shares of the company’s stock worth $475,918,000 after buying an additional 915,768 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Hewlett Packard Enterprise Company by 8.7% in the second quarter. Schroder Investment Management Group now owns 15,209,591 shares of the company’s stock worth $277,880,000 after buying an additional 1,219,364 shares in the last quarter. 79.32% of the stock is owned by institutional investors.

About Hewlett Packard Enterprise Company

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company operates through five segments: Enterprise Group, Software, Enterprise Services, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

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