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Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Down on Analyst Downgrade

Last updated on Monday, May 25th, 2020 by MarketBeat

Hewlett Packard Enterprise Co (NYSE:HPE) shares gapped down prior to trading on Monday after Credit Suisse Group lowered their price target on the stock from $9.00 to $8.50. The stock had previously closed at $11.32, but opened at $10.36. Credit Suisse Group currently has an underperform rating on the stock. Hewlett Packard Enterprise shares last traded at $9.17, with a volume of 28,856,500 shares trading hands.

HPE has been the topic of a number of other reports. ValuEngine cut Hewlett Packard Enterprise from a "sell" rating to a "strong sell" rating in a report on Monday, April 27th. Nomura Securities reaffirmed a "hold" rating on shares of Hewlett Packard Enterprise in a research note on Wednesday, April 8th. Cfra decreased their target price on shares of Hewlett Packard Enterprise from $19.00 to $14.00 and set a "hold" rating for the company in a research report on Wednesday, March 4th. Zacks Investment Research lowered shares of Hewlett Packard Enterprise from a "hold" rating to a "sell" rating and set a $12.00 target price on the stock. in a report on Friday, March 6th. Finally, Maxim Group cut their price target on Hewlett Packard Enterprise from $18.00 to $14.00 and set a "hold" rating for the company in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Hewlett Packard Enterprise has an average rating of "Hold" and a consensus target price of $13.07.

Hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI grew its holdings in shares of Hewlett Packard Enterprise by 189.4% in the fourth quarter. Citizens Financial Group Inc RI now owns 1,641 shares of the technology company's stock valued at $26,000 after acquiring an additional 1,074 shares in the last quarter. Great Diamond Partners LLC bought a new position in Hewlett Packard Enterprise during the fourth quarter valued at $26,000. Busey Wealth Management bought a new position in Hewlett Packard Enterprise during the fourth quarter valued at $27,000. Engrave Wealth Partners LLC bought a new position in Hewlett Packard Enterprise during the fourth quarter valued at $28,000. Finally, Ameritas Investment Company LLC grew its holdings in Hewlett Packard Enterprise by 64.1% during the fourth quarter. Ameritas Investment Company LLC now owns 2,009 shares of the technology company's stock valued at $32,000 after purchasing an additional 785 shares during the period. 79.82% of the stock is owned by institutional investors.

The firm has a fifty day simple moving average of $9.71 and a two-hundred day simple moving average of $13.29. The firm has a market capitalization of $11.81 billion, a P/E ratio of -183.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.89 and a quick ratio of 0.72.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Thursday, May 21st. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). Hewlett Packard Enterprise had a negative net margin of 0.13% and a positive return on equity of 12.35%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm earned $0.42 EPS. The business's revenue for the quarter was down 16.0% on a year-over-year basis. On average, research analysts anticipate that Hewlett Packard Enterprise Co will post 1.41 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.48 annualized dividend and a dividend yield of 5.23%. Hewlett Packard Enterprise's dividend payout ratio is currently 27.12%.

About Hewlett Packard Enterprise (NYSE:HPE)

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.

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20 "Past Their Prime" Stocks to Dump From Your Portfolio

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