Hewlett Packard Enterprise (NYSE: HPE) disclosed on Tuesday that it has raised its projections about the amount of profit it will produce during its fiscal year 2022. The company predicted that its earnings per share for the quarter would be somewhere between $1.96 and $2.00, which is lower than the average expectation that was floating around $2.03 for the quarter’s earnings per share. In addition, the company has released a revenue prediction lower than the consensus sales target of $28.23 billion, which is between $28.62 billion and $28.89 billion. In addition, Hewlett Packard Enterprise has increased its earnings target for the fourth quarter of 2022 to between $0.52 and $0.60 per share.
On Tuesday, August 30, Hewlett Packard Enterprise (NYSE: HPE) released its most recent quarterly financial report results. The quarterly profits per share (EPS) for the information technology business came in at $0.48, which was identical to the projection made by the market as a whole, which was $0.48. Hewlett Packard Enterprise achieved a return on equity of 18.25% and a net margin of 13.31% during the reporting period. The overall revenue for the quarter came in at $6.95 billion, which is below the average projection of $6.97 billion expected for the period. Compared to the prior year’s results, the current year’s quarterly earnings come in at $0.29 per share. Compared to the previous year, the company’s quarterly sales had an annual growth rate of 0.8% greater. Analysts following the stock market predict that Hewlett Packard Enterprise will generate $1.28 per share for the current fiscal year. On Tuesday morning, the market’s opening price was $12.98 for a single share of HPE.
The firm has a price-to-earnings ratio of 4.64, a price-to-earnings-to-growth ratio of 2.79, and a beta of 1.15, all of which contribute to its current market capitalization of $16.70 billion. Over the past year, the price of Hewlett Packard Enterprise has fluctuated between $12.40 and $17.76, hitting an all-time low of $12.40 and an all-time high of $17.76. The company has seen a moving average of $14.86 over the previous 200 days, while the moving average over the last 50 days has been $13.90. Currently, the debt-to-equity ratio stands at 0.44, the quick ratio stands at 0.66, and the current ratio stands at 0.92.
Recent news reports have detailed the findings of research carried out on HPE by several trading companies. In a research note published on Tuesday, June 21, Raymond James maintained its outperform rating and decreased its price objective for shares of Hewlett Packard Enterprise from $20.00 to $19.00. On August 16, Credit Suisse Group began providing coverage of Hewlett Packard Enterprise by posting a research note in which they rated the business as outperform and established a price objective of $18.00 for the stock.
In a research note issued on August 31, Morgan Stanley decreased their target price on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and gave the stock an underweight rating. Finally, in a research report published on Tuesday, June 28, Evercore ISI lowered their price objective on shares of Hewlett Packard Enterprise from $21.00 to $18.00. Despite this change, they continued to retain an outperform rating on the stock.
Last but not least, on June 2, Barclays lowered their price objective on Hewlett Packard Enterprise shares from $20.00 down to $19.00. Additionally, they downgraded the firm from an overweight rating to an underweight recommendation. Seven experts in the field have rated the company as a “buy,” three experts have rated it as a “hold,” and three experts have recommended selling the company. The information was gathered from Bloomberg, which states that the company’s current recommendation is to hold, and the average price goal is set at $16.59 per share.
Additionally, the company has announced that it will be paying out a quarterly dividend planned to take place on October 7. On Monday, September 12, investors of record will be eligible to receive a dividend payment of $0.12 per share. This payment will be issued to all stockholders. This translates into an annual dividend payment of $0.48 and a return on investment yield of 3.70 percent. This coming Friday, September 9, is the day that dividends will be lost as of that point in time. At the moment, the dividend payout ratio for Hewlett Packard Enterprise sits at 17.14%.
Irv Rothman, the company’s chief executive officer, reportedly sold 70,115 shares of company stock on Friday, September 9, as reported in related news. A total of 934,632.95 dollars was incurred as a consequence of the price of the stock. The price of $13.33 was the one that was purchased the most often. You will be sent to a legal file submitted to the SEC if you click on the link that we have provided for you, where you will find additional information regarding the sale. “The total number of shares held by company insiders amounts to 0.45% of the total number of shares issued by the company.