Published On: Thu, Sep 8th, 2016

Hewlett Packard Enterprise Co. (HPE) Hits New 52-Week High Following Earnings Beat

Hewlett Packard Enterprise Co. (NYSE:HPE)’s share price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $22.32 and last traded at $22.09, with a volume of 19,779,326 shares. The stock had previously closed at $21.86.
The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The company earned $12.20 billion during the quarter, compared to analysts’ expectations of $12.64 billion. The business’s quarterly revenue was down 3.9% on a year-over-year basis.
Several brokerages have issued reports on HPE. Credit Suisse Group AG restated an “outperform” rating and issued a $25.00 target price on shares of Hewlett Packard Enterprise in a report on Saturday. Raymond James Financial began coverage on Hewlett Packard Enterprise in a report on Wednesday, August 17th. They issued a “market perform” rating and a $22.07 target price for the company. Jefferies Group restated a “buy” rating and issued a $24.25 target price on shares of Hewlett Packard Enterprise in a report on Monday, August 15th. Zacks Investment Research upgraded Hewlett Packard Enterprise from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Finally, Vetr upgraded Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating and set a $25.52 target price for the company in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Hewlett Packard Enterprise has an average rating of “Hold” and an average target price of $20.12.

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In other Hewlett Packard Enterprise news, SVP Jeff T. Ricci sold 5,830 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $19.23, for a total transaction of $112,110.90. Following the transaction, the senior vice president now owns 5,830 shares of the company’s stock, valued at $112,110.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert Youngjohns sold 8,622 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $19.69, for a total value of $169,767.18. Following the transaction, the executive vice president now directly owns 18,033 shares in the company, valued at approximately $355,069.77. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
The stock has a market cap of $36.71 billion and a P/E ratio of 18.09. The company has a 50-day moving average of $21.42 and a 200-day moving average of $18.29.
Hewlett Packard Enterprise Company (Hewlett Packard Enterprise) is engaged in offering information technology (IT) and enterprise services solutions. The Company focuses on technology solutions, which enables the customers to build cloud-enabled, mobile-ready solutions that is suited to their needs. The Company’s portfolio includes enterprise services, software and financial services businesses.

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