Hewlett Packard Enterprise (NYSE:HPE) Updates Q4 2024 Earnings Guidance

Hewlett Packard Enterprise (NYSE:HPE) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.520-0.570 for the period, compared to the consensus earnings per share estimate of 0.550. The company issued revenue guidance of $8.1 billion-$8.4 billion, compared to the consensus revenue estimate of $8.2 billion. Hewlett Packard Enterprise also updated its FY 2024 guidance to 1.920-1.970 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HPE. Bank of America dropped their price target on Hewlett Packard Enterprise from $24.00 to $21.00 and set a neutral rating for the company in a report on Thursday. StockNews.com raised Hewlett Packard Enterprise from a hold rating to a buy rating in a report on Wednesday, June 5th. Evercore ISI upped their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an in-line rating in a research note on Wednesday, June 5th. Sanford C. Bernstein lifted their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a market perform rating in a research note on Wednesday, June 5th. Finally, UBS Group boosted their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a neutral rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Hewlett Packard Enterprise has a consensus rating of Hold and a consensus price target of $21.09.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE opened at $17.53 on Friday. The firm has a 50 day moving average of $19.38 and a 200-day moving average of $18.46. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company has a current ratio of 0.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $22.78 billion, a PE ratio of 12.79, a PEG ratio of 2.80 and a beta of 1.20.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.38% and a return on equity of 8.49%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, equities research analysts predict that Hewlett Packard Enterprise will post 1.59 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, September 19th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, September 19th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 37.96%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, CEO Gerri Gold sold 22,784 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $21.67, for a total value of $493,729.28. Following the completion of the transaction, the chief executive officer now owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hewlett Packard Enterprise news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $21.67, for a total transaction of $493,729.28. Following the sale, the chief executive officer now owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kirt P. Karros sold 30,686 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $20.49, for a total transaction of $628,756.14. The disclosure for this sale can be found here. Insiders have sold a total of 90,141 shares of company stock worth $1,874,608 over the last 90 days. Insiders own 0.40% of the company’s stock.

About Hewlett Packard Enterprise

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.