Oppenheimer Lowers Hewlett Packard Enterprise (NYSE:HPE) Price Target to $13.00

Hewlett Packard Enterprise (NYSE:HPE) had its price target lowered by Oppenheimer from $15.00 to $13.00 in a research note published on Friday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. Cfra dropped their price target on shares of Hewlett Packard Enterprise from $19.00 to $14.00 and set a hold rating on the stock in a report on Wednesday, March 4th. Barclays dropped their price target on shares of Hewlett Packard Enterprise from $10.00 to $9.00 and set an equal weight rating on the stock in a report on Friday. Deutsche Bank dropped their price target on shares of Hewlett Packard Enterprise from $15.00 to $13.00 in a report on Tuesday, April 7th. Wells Fargo & Co raised shares of Hewlett Packard Enterprise from an equal weight rating to an overweight rating and set a $14.00 price target on the stock in a report on Tuesday, March 31st. Finally, Royal Bank of Canada assumed coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, April 22nd. They issued a sector perform rating and a $11.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $13.07.

Shares of NYSE HPE traded down $1.19 during trading on Friday, reaching $9.17. 28,814,615 shares of the company traded hands, compared to its average volume of 8,252,126. The firm has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $13.29. The company has a quick ratio of 0.65, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $13.35 billion, a PE ratio of -183.40, a P/E/G ratio of 1.80 and a beta of 1.37. Hewlett Packard Enterprise has a 52-week low of $7.43 and a 52-week high of $17.59.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Thursday, May 21st. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Hewlett Packard Enterprise had a negative net margin of 0.13% and a positive return on equity of 12.16%. The business’s revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, research analysts predict that Hewlett Packard Enterprise will post 1.48 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Tuesday, June 9th. Hewlett Packard Enterprise’s payout ratio is 27.12%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in Hewlett Packard Enterprise by 11.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,419,056 shares of the technology company’s stock worth $13,779,000 after acquiring an additional 140,370 shares during the period. APG Asset Management N.V. raised its stake in Hewlett Packard Enterprise by 40.9% during the 1st quarter. APG Asset Management N.V. now owns 1,109,954 shares of the technology company’s stock worth $10,778,000 after acquiring an additional 322,027 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Hewlett Packard Enterprise by 24.1% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 92,197 shares of the technology company’s stock worth $895,000 after acquiring an additional 17,895 shares during the period. Advisor Group Holdings Inc. bought a new stake in Hewlett Packard Enterprise during the 1st quarter worth approximately $1,045,000. Finally, Caxton Associates LP raised its stake in Hewlett Packard Enterprise by 18.7% during the 1st quarter. Caxton Associates LP now owns 52,608 shares of the technology company’s stock worth $511,000 after acquiring an additional 8,295 shares during the period. Institutional investors own 81.67% of the company’s stock.

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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