Hewlett Packard Enterprise (NYSE:HPE) Expected to Post Quarterly Sales of $6.83 Billion

Wall Street analysts predict that Hewlett Packard Enterprise (NYSE:HPEGet Rating) will report sales of $6.83 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Hewlett Packard Enterprise’s earnings, with the lowest sales estimate coming in at $6.77 billion and the highest estimate coming in at $6.88 billion. Hewlett Packard Enterprise posted sales of $6.70 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Hewlett Packard Enterprise will report full year sales of $28.60 billion for the current fiscal year, with estimates ranging from $28.36 billion to $28.82 billion. For the next fiscal year, analysts anticipate that the company will post sales of $29.59 billion, with estimates ranging from $29.25 billion to $29.94 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Hewlett Packard Enterprise.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last released its earnings results on Tuesday, March 1st. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.24 by $0.15. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $7.02 billion. Hewlett Packard Enterprise had a return on equity of 20.07% and a net margin of 13.32%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share.

A number of analysts recently commented on the company. Bank of America downgraded Hewlett Packard Enterprise from a “buy” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $16.00 in a research report on Friday, May 20th. Zacks Investment Research lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research note on Tuesday, February 1st. Morgan Stanley lowered Hewlett Packard Enterprise from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Tuesday, April 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their price target on Hewlett Packard Enterprise from $20.00 to $18.00 in a report on Wednesday. Finally, KGI Securities assumed coverage on Hewlett Packard Enterprise in a report on Tuesday, April 19th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.21.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. increased its position in Hewlett Packard Enterprise by 155.9% during the fourth quarter. Financial Management Professionals Inc. now owns 1,617 shares of the technology company’s stock worth $26,000 after buying an additional 985 shares during the period. Elmwood Wealth Management Inc. purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $28,000. DeDora Capital Inc. purchased a new position in shares of Hewlett Packard Enterprise in the 1st quarter valued at approximately $30,000. Delos Wealth Advisors LLC purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $33,000. Finally, Evoke Wealth LLC grew its stake in shares of Hewlett Packard Enterprise by 125.0% in the 4th quarter. Evoke Wealth LLC now owns 2,221 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,234 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

HPE stock opened at $15.79 on Friday. Hewlett Packard Enterprise has a twelve month low of $12.99 and a twelve month high of $17.76. The company has a quick ratio of 0.68, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $15.93 and its 200-day moving average is $16.02. The firm has a market capitalization of $20.53 billion, a PE ratio of 5.68, a P/E/G ratio of 1.79 and a beta of 1.15.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 10th. Hewlett Packard Enterprise’s payout ratio is presently 17.27%.

Hewlett Packard Enterprise Company Profile (Get Rating)

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

Featured Articles

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.