Hewlett Packard Enterprise (NYSE:HPE) Announces Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Hewlett Packard Enterprise reported quarterly earnings of $0.35 per share, missing analysts' expectations of $0.44 by $0.09.
• The company's stock traded up 0.7%, reaching $22.85, with an average target price of $23.33 according to analysts.
• Recent insider trading showed significant sales by executives, indicating a reduction in their holdings, while institutional investors collectively own approximately 80.78% of the company's stock.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.09), Zacks reports. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%.

Hewlett Packard Enterprise Stock Up 0.7%

Hewlett Packard Enterprise stock traded up $0.17 during trading hours on Wednesday, hitting $22.85. The company had a trading volume of 31,740,712 shares, compared to its average volume of 18,895,430. Hewlett Packard Enterprise has a fifty-two week low of $11.97 and a fifty-two week high of $24.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. The firm has a market capitalization of $29.98 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 3.28 and a beta of 1.43. The firm's fifty day moving average is $20.97 and its 200-day moving average is $18.35.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Hewlett Packard Enterprise from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley upgraded Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $22.00 to $28.00 in a research report on Thursday, August 21st. Raymond James Financial increased their price objective on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a report on Wednesday, June 4th. UBS Group boosted their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Hewlett Packard Enterprise in a research report on Thursday, July 17th. They issued an "overweight" rating and a $30.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hewlett Packard Enterprise presently has an average rating of "Moderate Buy" and an average target price of $23.33.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 30th. The shares were sold at an average price of $20.54, for a total value of $616,200.00. Following the completion of the sale, the executive vice president owned 42,427 shares of the company's stock, valued at approximately $871,450.58. The trade was a 41.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.44, for a total value of $1,264,799.60. The disclosure for this sale can be found here. Insiders have sold 378,590 shares of company stock worth $8,106,833 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in shares of Hewlett Packard Enterprise during the second quarter worth $26,000. Geneos Wealth Management Inc. grew its position in shares of Hewlett Packard Enterprise by 44.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company's stock valued at $69,000 after acquiring an additional 1,377 shares during the period. Voleon Capital Management LP bought a new position in shares of Hewlett Packard Enterprise during the 2nd quarter worth approximately $207,000. WINTON GROUP Ltd acquired a new stake in shares of Hewlett Packard Enterprise during the 2nd quarter worth about $207,000. Finally, Curi Capital LLC acquired a new position in shares of Hewlett Packard Enterprise in the second quarter valued at approximately $216,000. Institutional investors own 80.78% of the company's stock.

Hewlett Packard Enterprise Company Profile

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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