Hewlett Packard Enterprise (NYSE:HPE) Issues Quarterly Earnings Results

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

Hewlett Packard Enterprise Stock Performance

Hewlett Packard Enterprise stock traded up $0.69 during mid-day trading on Monday, reaching $21.82. 31,289,239 shares of the stock traded hands, compared to its average volume of 17,138,963. Hewlett Packard Enterprise has a 12-month low of $11.97 and a 12-month high of $26.44. The business’s 50-day moving average is $22.16 and its 200-day moving average is $23.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 0.76. The stock has a market capitalization of $28.99 billion, a PE ratio of -363.61, a price-to-earnings-growth ratio of 0.58 and a beta of 1.31.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HPE shares. The Goldman Sachs Group assumed coverage on Hewlett Packard Enterprise in a report on Tuesday, January 13th. They set a “buy” rating and a $31.00 price target on the stock. Citigroup decreased their target price on Hewlett Packard Enterprise from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hewlett Packard Enterprise in a report on Friday, December 26th. Argus raised their price target on shares of Hewlett Packard Enterprise from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley decreased 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.29.

Insiders Place Their Bets

In related news, EVP Fidelma Russo sold 126,512 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $24.61, for a total value of $3,113,460.32. Following the transaction, the executive vice president owned 51,002 shares of the company’s stock, valued at approximately $1,255,159.22. This trade represents a 71.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maeve C. Culloty sold 35,958 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $24.66, for a total transaction of $886,724.28. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 471,861 shares of company stock valued at $11,605,705. 0.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Compound Planning Inc. increased its stake in Hewlett Packard Enterprise by 4.0% in the 4th quarter. Compound Planning Inc. now owns 18,505 shares of the technology company’s stock worth $444,000 after buying an additional 705 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Hewlett Packard Enterprise by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 400,997 shares of the technology company’s stock valued at $9,257,000 after acquiring an additional 8,783 shares during the period. Virtue Capital Management LLC lifted its position in shares of Hewlett Packard Enterprise by 258.0% in the fourth quarter. Virtue Capital Management LLC now owns 10,528 shares of the technology company’s stock valued at $254,000 after acquiring an additional 7,587 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Hewlett Packard Enterprise by 1.3% in the fourth quarter. Vident Advisory LLC now owns 78,470 shares of the technology company’s stock valued at $1,885,000 after acquiring an additional 1,013 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Hewlett Packard Enterprise by 15.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 12,920 shares of the technology company’s stock worth $310,000 after acquiring an additional 1,747 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.

About Hewlett Packard Enterprise

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.