Hewlett Packard Enterprise (NYSE:HPE) Updates Q3 2022 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPEGet Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.44-$0.54 for the period, compared to the consensus EPS estimate of $0.52. The company issued revenue guidance of -.Hewlett Packard Enterprise also updated its FY 2022 guidance to $1.96-$2.10 EPS.

Shares of NYSE:HPE traded up $0.18 on Wednesday, reaching $15.78. The company’s stock had a trading volume of 12,539,175 shares, compared to its average volume of 11,211,611. The company has a 50-day simple moving average of $15.85 and a 200 day simple moving average of $16.03. Hewlett Packard Enterprise has a 52-week low of $12.99 and a 52-week high of $17.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.94. The company has a market cap of $20.52 billion, a P/E ratio of 5.68, a PEG ratio of 2.85 and a beta of 1.15.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last released its quarterly 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. Hewlett Packard Enterprise had a return on equity of 20.07% and a net margin of 13.32%. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Hewlett Packard Enterprise will post 1.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Monday, June 13th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.04%. Hewlett Packard Enterprise’s payout ratio is 17.27%.

HPE has been the topic of several recent research reports. KGI Securities started coverage on Hewlett Packard Enterprise in a report on Tuesday, April 19th. They set an outperform rating on the stock. Bank of America downgraded shares of Hewlett Packard Enterprise from a buy rating to a neutral rating and reduced their target price for the company from $19.00 to $16.00 in a research note on Friday, May 20th. JPMorgan Chase & Co. cut their price target on shares of Hewlett Packard Enterprise from $20.00 to $18.00 in a report on Wednesday, May 25th. Sanford C. Bernstein upgraded Hewlett Packard Enterprise from a market perform rating to an outperform rating and set a $20.00 target price for the company in a research report on Wednesday, March 2nd. Finally, Citigroup increased their price target on Hewlett Packard Enterprise from $13.00 to $14.00 in a report on Wednesday, March 2nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $17.21.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ironwood Wealth Management LLC. increased its stake in shares of Hewlett Packard Enterprise by 52.8% in the second quarter. Ironwood Wealth Management LLC. now owns 4,186 shares of the technology company’s stock worth $61,000 after acquiring an additional 1,447 shares during the period. First Manhattan Co. raised its position in Hewlett Packard Enterprise by 89.4% during the first quarter. First Manhattan Co. now owns 2,413 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,139 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Hewlett Packard Enterprise by 32.2% in the 1st quarter. Beacon Pointe Advisors LLC now owns 18,558 shares of the technology company’s stock worth $310,000 after purchasing an additional 4,515 shares during the period. Toroso Investments LLC increased its stake in shares of Hewlett Packard Enterprise by 11.9% during the fourth quarter. Toroso Investments LLC now owns 19,139 shares of the technology company’s stock worth $302,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth $297,000. Institutional investors own 82.70% of the company’s stock.

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.

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