Quarterly Financial Update for Hewlett Packard Enterprise Company (NYSE:HPE)

Quarterly Financial Update for Hewlett Packard Enterprise Company (NYSE:HPE)

Equities research analysts at Wells Fargo & Company began coverage on shares of Hewlett Packard Enterprise Company (NYSE:HPE) in a research note issued on Tuesday.

A number of other large investors have also recently added to or reduced their stakes in HPE. Pzena Investment Management LLC now owns 37,560,840 shares of the technology company's stock valued at $552,520,000 after purchasing an additional 15,431,606 shares in the last quarter. Westside Investment Management Inc. now owns 17,432 shares of the technology company's stock worth $292,000 after purchasing an additional 250 shares during the last quarter. Short shares increased from 28,227,257 to 30,993,333 over that timeframe. Meridian Investment Counsel Inc. raised its holdings in Hewlett Packard Enterprise by 1.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company's stock worth $108,000 after purchasing an additional 200 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. raised its holdings in Hewlett Packard Enterprise by 1.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 950,000 shares of the technology company's stock worth $13,975,000 after purchasing an additional 350,000 shares during the last quarter.

Short traders are more bearish on the company at least if you consider the uptick in short interest. The company had a trading volume of 14,681,100 shares, compared to its average volume of 12,083,662. Of all companies tracked, Hewlett Packard Enterprise had the 27th highest net in-flow for the day. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50.

Hewlett Packard Enterprise Company (HPE) reported sales (ttm) of 35.69 Billion, whereas, 19 number of analysts estimated the mean sale of 7716.57 million. The technology company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. During the same quarter in the prior year, the business posted $0.49 EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Investors of record on Wednesday, December 13th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.30 dividend on an annualized basis and a yield of 2.23%.

In related news, CEO Margaret C. Whitman sold 249,052 shares of Hewlett Packard Enterprise stock in a transaction on Thursday, September 14th. Hewlett Packard Enterprise's payout ratio is now 371.48%.

Hewlett Packard Enterprise declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this story on another site, it was illegally stolen and reposted in violation of US & global copyright & trademark law. The stock presently has a consensus rating of "Hold" and an average price target of $23.53. Royal Bank Of Canada reissued a "sector perform" rating and set a $15.00 price objective (down previously from $20.00) on shares of Hewlett Packard Enterprise in a research report on Friday, September 1st.

Hewlett Packard Enterprise Company (HPE) now has P/E (Price to Earnings) ratio of 74.07 while the company's industry has 16.27 P/E and the sector P/E is 17.76. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. October 19 investment analysts at Oppenheimer Holdings made no change to the company rating of "Buy" targeting a price of $17.00. The stock now has Weekly Volatility of 1.49% and Monthly Volatility of 2.03%. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Youngjohns sold 179,890 shares of the company's stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $23.00, for a total value of $2,482,482.00. Following the completion of the sale, the executive vice president now owns 58,215 shares of the company's stock, valued at $1,281,312.15. The disclosure for this sale can be found here. The shares were sold at an average price of $22.01, for a total value of $3,959,378.90. Company insiders own 0.87% of the company's stock.

Hewlett Packard Enterprise (HPE) split with HP (HPQ) in November 2015 to focus on core growth areas. The Company's divisions include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).