Hewlett Packard Enterprise (NYSE:HPE) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Hewlett Packard Enterprise (NYSE:HPE) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Other equities analysts have also recently issued research reports about the company. Longbow Research initiated coverage on Hewlett Packard Enterprise in a report on Friday, June 21st. They issued a neutral rating and a $15.00 price target on the stock. Nomura decreased their price target on Hewlett Packard Enterprise from $20.00 to $17.00 and set a neutral rating on the stock in a report on Friday, May 24th. Credit Suisse Group initiated coverage on Hewlett Packard Enterprise in a report on Thursday, April 11th. They issued an underperform rating and a $14.00 price target on the stock. Evercore ISI initiated coverage on Hewlett Packard Enterprise in a report on Wednesday, June 5th. They issued an underperform rating and a $14.00 price target on the stock. Finally, Zacks Investment Research upgraded Hewlett Packard Enterprise from a hold rating to a buy rating and set a $17.00 price target on the stock in a report on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Hewlett Packard Enterprise presently has a consensus rating of Hold and an average target price of $16.50.

Hewlett Packard Enterprise stock traded down $0.87 during mid-day trading on Thursday, hitting $13.27. The stock had a trading volume of 21,673,423 shares, compared to its average volume of 7,297,871. The firm’s 50-day moving average is $14.76. The firm has a market cap of $19.24 billion, a PE ratio of 8.51, a PEG ratio of 1.34 and a beta of 1.58. Hewlett Packard Enterprise has a 12 month low of $12.09 and a 12 month high of $17.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.93 and a quick ratio of 0.80.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $7.15 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Hewlett Packard Enterprise had a return on equity of 12.32% and a net margin of 0.95%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. Research analysts forecast that Hewlett Packard Enterprise will post 1.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Tuesday, September 10th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 28.85%.

In other news, insider Philip Davis sold 10,088 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $14.96, for a total transaction of $150,916.48. Following the sale, the insider now owns 15,423 shares of the company’s stock, valued at $230,728.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Irv Rothman sold 84,629 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $13.85, for a total value of $1,172,111.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,129 shares of company stock worth $1,558,212. Company insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its position in shares of Hewlett Packard Enterprise by 197.6% during the first quarter. Boston Partners now owns 28,872,991 shares of the technology company’s stock worth $445,510,000 after purchasing an additional 19,172,670 shares during the period. Geode Capital Management LLC raised its position in shares of Hewlett Packard Enterprise by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 17,794,119 shares of the technology company’s stock worth $234,707,000 after purchasing an additional 384,154 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Hewlett Packard Enterprise by 4.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,783,104 shares of the technology company’s stock worth $150,954,000 after purchasing an additional 454,015 shares during the period. First Trust Advisors LP raised its position in shares of Hewlett Packard Enterprise by 4.4% during the first quarter. First Trust Advisors LP now owns 8,624,130 shares of the technology company’s stock worth $133,070,000 after purchasing an additional 366,539 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Hewlett Packard Enterprise by 3.0% during the first quarter. Parametric Portfolio Associates LLC now owns 7,048,467 shares of the technology company’s stock worth $108,758,000 after purchasing an additional 204,553 shares during the period. 81.80% of the stock is currently owned by institutional investors.

Hewlett Packard Enterprise Company Profile

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.

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Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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