Hewlett Packard Enterprise (NYSE:HPE) Updates Q3 2024 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPEGet Free Report) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.430-0.480 for the period, compared to the consensus estimate of 0.470. The company issued revenue guidance of $7.4 billion-$7.8 billion, compared to the consensus revenue estimate of $7.5 billion. Hewlett Packard Enterprise also updated its FY 2024 guidance to 1.850-1.950 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Hewlett Packard Enterprise from $20.00 to $18.00 and set a buy rating on the stock in a research report on Friday, March 1st. StockNews.com lowered shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a research report on Saturday, April 27th. Evercore ISI reduced their target price on shares of Hewlett Packard Enterprise from $19.00 to $18.00 and set an in-line rating on the stock in a research report on Friday, March 1st. Wells Fargo & Company upped their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. Finally, Barclays reduced their target price on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and set an equal weight rating on the stock in a research report on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $18.20.

View Our Latest Report on HPE

Hewlett Packard Enterprise Trading Down 1.9 %

Shares of HPE traded down $0.35 on Tuesday, reaching $17.60. 26,592,908 shares of the company’s stock were exchanged, compared to its average volume of 14,515,929. The company has a current ratio of 0.89, a quick ratio of 0.63 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $22.88 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 3.27 and a beta of 1.18. The business has a 50 day moving average price of $17.55 and a two-hundred day moving average price of $16.72. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $20.07.

Hewlett Packard Enterprise (NYSE:HPEGet Free Report) last posted its earnings results on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.82 billion. Hewlett Packard Enterprise had a net margin of 6.81% and a return on equity of 9.12%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Research analysts anticipate that Hewlett Packard Enterprise will post 1.4 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, June 19th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.95%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 35.86%.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 18,323 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $16.96, for a total value of $310,758.08. Following the sale, the senior vice president now directly owns 15,541 shares in the company, valued at $263,575.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Hewlett Packard Enterprise Company Profile

(Get Free Report)

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. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.

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