Hewlett Packard Enterprise (NYSE:HPE) Stock Price Down 6.2%

Hewlett Packard Enterprise Co (NYSE:HPE)’s stock price dropped 6.2% during mid-day trading on Friday . The company traded as low as $13.02 and last traded at $13.27, approximately 21,673,424 shares changed hands during mid-day trading. An increase of 113% from the average daily volume of 10,180,723 shares. The stock had previously closed at $14.14.

HPE has been the topic of a number of recent research reports. Longbow Research initiated coverage on Hewlett Packard Enterprise in a report on Friday, June 21st. They issued a “neutral” rating and a $15.00 target price on the stock. Nomura dropped their target price 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. ValuEngine lowered Hewlett Packard Enterprise from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, May 22nd. Finally, Evercore ISI initiated coverage on Hewlett Packard Enterprise in a report on Wednesday, June 5th. They issued an “underperform” rating and a $14.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $16.50.

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.93 and a quick ratio of 0.80. The firm has a market cap of $18.94 billion, a PE ratio of 8.51, a PEG ratio of 1.31 and a beta of 1.58. The firm’s 50 day moving average is $14.76.

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

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

In other Hewlett Packard Enterprise news, insider Irv Rothman sold 84,629 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip Davis sold 10,088 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $14.96, for a total value of $150,916.48. Following the sale, the insider now owns 15,423 shares in the company, valued at $230,728.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,129 shares of company stock worth $1,558,212. 0.56% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Truewealth LLC lifted its position in shares of Hewlett Packard Enterprise by 72.7% in the second quarter. Truewealth LLC now owns 2,376 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Hewlett Packard Enterprise by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 309,693 shares of the technology company’s stock valued at $4,779,000 after acquiring an additional 3,893 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Hewlett Packard Enterprise in the first quarter valued at $659,000. Moors & Cabot Inc. purchased a new stake in shares of Hewlett Packard Enterprise in the first quarter valued at $288,000. Finally, Oak Associates Ltd. OH lifted its position in shares of Hewlett Packard Enterprise by 1.5% in the first quarter. Oak Associates Ltd. OH now owns 482,266 shares of the technology company’s stock valued at $7,441,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.

About Hewlett Packard Enterprise (NYSE:HPE)

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.

Further Reading: Buy-Side Analysts

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