Hewlett Packard Enterprise Analysts Cut Their Forecasts After Q1 Results

Avi Kapoor

March 01, 2024

Hewlett Packard Enterprise Company (NYSE:HPE) reported mixed first-quarter financial results and issued weak guidance on Thursday.

Revenue fell 14% Y/Y to $6.76 billion, missing the consensus of $7.11 billion. Adjusted EPS of 48 cents, beating the consensus of 45 cents.

The Board of Directors declared a cash dividend per share of 13 cents, payable on April 12, 2024, to stockholders of record as of March 15, 2024.

"HPE exceeded our profitability expectations and drove near-record year-over-year growth in our recurring revenue in the face of market headwinds, demonstrating the relevance of our strategy," said Antonio Neri, president and CEO of Hewlett Packard Enterprise. "Despite a mixed quarter, I remain very confident that our focus on customer-centric innovation and our track record of operational discipline will allow us to capitalize on the significant market opportunities in AI as well as across edge and hybrid cloud and to deliver value to our shareholders."

For the second quarter, Hewlett Packard Enterprise sees adjusted EPS of $0.36-$0.41 vs. consensus of $0.45, revenue of $6.6 billion-$7 billion vs. $7.11 billion estimate.

For FY24, the company projects adjusted EPS of $1.82-$1.92 vs. an estimate of $1.92, with revenue growth to be flat to 2% in constant currencies. HPE estimates a free cash flow of at least $1.9 billion.

Hewlett Packard Enterprise shares rose 2.5% to close at $15.23 on Thursday.

These analysts made changes to their price targets on Hewlett Packard Enterprise after the company reported quarterly results.

Barclays cut the price target on Hewlett Packard Enterprise from $15 to $14. Barclays analyst Tim Long maintained an Equal-Weight rating.

Evercore ISI Group slashed the price target on Hewlett Packard Enterprise from $19 to $18. Evercore ISI Group analyst Amit Daryanani maintained an In-Line rating.

Wells Fargo lowered the price target on Hewlett Packard Enterprise from $21 to $17. Wells Fargo analyst Aaron Rakers downgraded Hewlett Packard from Overweight to Equal-Weight.

Read This Next: Dell, SoundHound AI And 3 Stocks To Watch Heading Into Friday

Recommended

FDA Submission Expected This Summer - Invest Before It Happens - Ad

Putting Your Name on This List Could Hand You $1,270 on Friday - Ad

Elon's Greatest Invention... Hidden in South Memphis? - Ad

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset

Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025 - Ad

On August 30th, two powerful "Wealth Drivers" ignite what could be a 2025 super bull run-backed by Trump. The altcoin market as a whole has already soared 132,721% over the past ten years and could surge again. A $900 stake could turn into $108K over 12 months. This is The Great Gain of 2025.

Trump's 'Big, Beautiful Bill' Hands $5 Billion Win To Big Pharma: Report

Trump's $3.3 trillion domestic agenda bill, passed by the House on Thursday, includes a significant victory for pharmaceutical companies .

AstraZeneca In $15 Billion Talks For Drug That Could Upend Lung Cancer Treatment

AstraZeneca is in advanced talks with Summit Therapeutics over a potential $15 billion deal for the lung cancer drug ivonescimab.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

ProKidney Stock Shoots Up Over 8% After Hours After Staggering 515% Rally On Wednesday

ProKidney (NASDAQ: PROK) experienced a surge of 515% during Tuesday's trading session and gained additional 8.58% after-hours to $4.05 on positive Phase 2 trial results, with trading volume seeing a jump to 39.8 million shares from an average of 1.12 million.

Trump asks Supreme Court to remove 3 Democrats on the Consumer Product Safety Commission

WASHINGTON (AP) — The Trump administration on Wednesday asked the to remove three Democratic members of the , who were fired by President and then reinstated by a federal judge.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Cathie Wood Doubles Down On Tesla Despite Leadership Exodus, Dumps $22 Million Of Crypto Stocks Amid Bitcoin Buzz

Cathie Wood-led Ark Invest made significant trades on Tuesday, involving major companies like Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc.

Here's Why 'Altcoin Season' For XRP, ETH, SOL Has Not Happened Yet

Cryptocurrency analyst Benjamin Cowen has argued that an ‘altcoin season‘ has failed to materialize due to monetary policy, liquidity and stubborn Bitcoin (CRYPTO:

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Award-winning international correspondent launches a new journalism platform

NEW YORK (AP) — Jane Ferguson has won awards for unflinching reporting from dangerous lands including Afghanistan, Somalia and Yemen. So she was unlikely to be intimidated by seeking financing for a new journalism platform, despite tough times for the news industry.

Trump says he's not planning to extend a pause on global tariffs beyond July 9

WASHINGTON (AP) — President Donald Trump says he is not planning to extend on most nations beyond July 9, when the negotiating period he set would expire, and his administration will notify countries that the trade penalties will take effect unless there are

Tariff-Driven Cash Payouts, Right Off Your Smart Phone?

Tariff-Driven Cash Payouts, Right Off Your Smart Phone? - Ad

The U.S. Treasury has raked in $15B from Trump's tariffs - and now, thanks to Title 15, you could pocket $100-$1,000 upfront payouts yourself. No stocks needed. Just use your phone and my #1 income strategy to start collecting now.

Rescuers search for survivors after Houthi attack on cargo ship in the Red Sea

DUBAI, United Arab Emirates (AP) — Rescuers launched a search Wednesday for survivors of a Liberian-flagged cargo ship that came under attack from in the Red Sea, authorities said. At least three mariners were killed and two were wounded.

UnitedHealthcare Group, Gryphon Digital Mining, AMC Entertainment, Centene, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Major U.S. indices were mixed on Tuesday, with the Dow Jones Industrial Average rising 0.9% to 44,494.94 and the S&P 500 declining 0.1% to 6,198.01. The Nasdaq fell 0.8% to 20,202.89. These are the top stocks that gained the attention of retail traders and investors throughout the day:

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Trump Says Israel Ready For 60 Day Ceasefire In Gaza, Hopes Hamas Takes The Deal Because It Won't 'Get Better'

Trump proposed 60-day ceasefire in Gaza, which Israel has agreed to. Qatar and Egypt will deliver the proposal to Hamas. Trump meets Netanyahu next week.

U.S. employers likely added 115,000 jobs last month as labor market continues to cool

The steady slowdown in U.S. hiring likely continued in June as President Donald Trump’s trade wars, federal hiring freeze and immigration crackdown weighed on the American job market.

What's inside Elon's building in Memphis will shock you

What's inside Elon's building in Memphis will shock you - Ad

Inside Elon Musk's Memphis site lies a supercomputer built to power the world's first superhuman AI. It could make Elon a trillionaire - and new millionaires, too. With just $500, you could get in before the July 1st funding window closes.

China lifts a nearly 2-year ban on seafood from Japan over Fukushima wastewater

BEIJING (AP) — China has to seafood from Japan after a nearly two-year ban over the discharge of slightly radioactive wastewater from the tsunami-destroyed Fukushima nuclear power plant.

Amy Coney Barrett Earns Trump's Credit After Court Ruling: 'I Have Great Respect For Her'

Trump praises Justice Barrett's Supreme Court ruling limiting nationwide injunctions, while blasting NYC's Mamdani and defending his economic agenda.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Trump May Have Sent Dear Japan Letter On Tariffs, But Tokyo Unlikely To Make Progress On Deal Until This Key Event Takes Place

President Donald Trump notified Japan of 25% tariff rates on Monday, effectively extending negotiations until August 1.

BlackRock's Bitcoin ETF Surpasses S&P 500 ETF In Revenue As XRP, Dogecoin ETF Approval Predicted To Follow Soon

The momentum behind spot crypto ETFs is accelerating, as inflows and revenues from Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs have outpaced traditional

Putting Your Name on This List Could Hand You $1,270 on Friday

Putting Your Name on This List Could Hand You $1,270 on Friday - Ad

URGENT: On Tuesday, a simple set of instructions will be sent out to an elite group of investors. The folks in this group will have the opportunity to place a 10-minute trade that could double their money by Friday. Consider this your invitation to join them. The next trade is just days away.

North Koreans swim and play at a beach resort touted as a boost for tourism

SEOUL, South Korea (AP) — North Koreans swam, rode water park slides and enjoyed other water activities at a newly opened state media reported Wednesday, as the country largely maintains a ban on the entry of foreign tourists.

Rigetti Computing, Netflix, Johnson & Johnson, United Airlines And ASML: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks moved higher today, with the Dow Jones gaining more than 200 points, or 0.5%, to close at 44,254.78.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

Prokidney, Soundhound AI, Quantumscape, Intel, And Nvidia: Why These 5 Stocks Are On Investors' Radars Today

U.S. major indices ended mixed on Tuesday, as the Dow Jones Industrial Average slipped nearly 0.4% to 44,240.76 and the S&P 500 edged down 0.1% to 6,225.52.

Sonnet BioTherapeutics Drops 5% Intraday, Rebounds 14% After Hours Amid Delisting Concerns

Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) fell 5.54% on Thursday to close at $3.92, before rebounding 14.29% in after-hours trading to $4.48, amid concerns of a potential NASDAQ delisting.

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025 - Ad

Consumer Financial Protection Bureau dismisses $95M overdraft case vs. Navy Federal Credit Union

NEW YORK (AP) — Navy Federal Credit Union will no longer have to refund $80 million to servicemen and women for illegally charging them overdraft fees on their accounts, after the President Donald Trump-led Consumer Financial Protection Bureau moved to dismiss the case.

Trump Calls America Party A 'Train Wreck,' Blasts Elon Musk For Going Completely 'Off The Rails': President Says System Not Designed For A Third Player

Trump criticizes Musk for forming America Party, calling it a Train Wreck. Musk's dissatisfaction with two-party system leads to poll where 80% support new party.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

650% Later, Rocket Lab CEO Isn't One Bit Worried

Rocket Lab CEO Peter Beck highlights strong demand for launches from both commercial and government customers.

Feihe Struggles Amid China's Dairy Oversupply And Falling Birth Rates

Declining birth rates and China's slowing economy are taking a toll on the company and its peers as they grapple with oversupply and asset impairments on excess inventory

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

Trash and tension mount in Philadelphia on Day 8 of workers strike, while some seek pop-up haulers

PHILADELPHIA (AP) — As trash and tempers heat up across Philadelphia on by blue-collar city workers Tuesday, some residents and small business owners are hiring pop-up hauling services to clear their blocks of garbage, even as they broadly support the union’s .

Trending Now

Trump's 'Big, Beautiful Bill' Offers Seniors A $6,000 'Bonus' Tax Deduction: Here's How You Qualify For The Benefit

Coldplay's jumbotron captures — what exactly? The internet has its theories

How to Hack a $1.3T Market - Ad

Is Elon's Empire Crumbling? - Ad

Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says 'AI Hallucinates, It Should Be The Tech That You Don't Trust That Much'

After Trump Warns Elon Musk To 'Close Up Shop,' China Rallies Behind World's Richest Man: 'There's No Need To Keep Putting Up With It'

Lisa Murkowski Defends Alaska Carveouts As Elizabeth Warren, Bernie Sanders And Rand Paul Condemn Trump's 'Big Beautiful' Bill: 'Not Good Enough For The Rest Of Our Nation'