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

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

Trump Signs Law to Launch Dollar 2.0 - Ad

The Smart Money Copper Trade - Ad

NEW YORK (AP) — It arrived in 2024. And it never left. and massively popular, Grammy-nominated “APT.” topped Apple Music’s global song chart in 2025 as the giant music streamer Tuesday and provided listeners with data on their own most listened-to tunes.

Space forecasters say severe solar storms could hit Earth and trigger auroras

NEW YORK (AP) — Space weather forecasters issued an alert on Tuesday for incoming severe that could produce and temporarily disrupt communications.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

John Bolton Questions Trump's Latest 'Incoherent Strategy' To Achieve Ukraine-Russia Agreement, Calls It 'Typically Trumpian'

Bolton criticizes Trump's 28-point peace proposal for Russia-Ukraine conflict as incoherent and lacking strategy, claiming it benefits Moscow.

Indigenous groups get the spotlight at UN climate talks, but some say visibility isn't power

BELEM, Brazil (AP) — Indigenous people are used to adapting, so when the power failed at their kickoff event at this year's , they rolled with it. Participants from around the world sweated through song, dance and prayers, improvising without microphones and cooling themselves with fans made of paper or leaves.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Cathie Wood Dumps $11.6 Million Worth Of Tesla Stock: Here Is What Ark Purchased Instead

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc.

Here's why everyone's talking about a 'K-shaped' economy

WASHINGTON (AP) — From corporate executives to Wall Street analysts to Federal Reserve officials, references to the “K-shaped economy” are rapidly proliferating.

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Trump commutes prison sentence for former private equity executive David Gentile

HALLANDALE BEACH, Fla. (AP) — President has commuted the prison sentence of former investment manager David Gentile, who was convicted of defrauding investors — the latest in a Trump has taken in .

Noem Says National Guard Shooting Suspect Was Radicalized In US

DHS Secretary Kristi Noem says that the suspect in the fatal shooting of a National Guard member in Washington was radicalized domestically.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Officer Injured By January 6 Predicts Trump Will Flee US After 2026 Elections: 'He'll Be Hopping on That Qatari Jet to Saudi Arabia'

Former District of Columbia Metro police officer Michael Fanone has speculated that President Trump might leave the U.S. after the 2026 elections.

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Joan Branson, the wife of British billionaire Richard Branson, has died at age 80.

$270,000 Drug. One Competitor. Billion-Dollar Market.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Scaramucci Says This One US Mistake Helped China Become a Manufacturing Superpower

Anthony Scaramucci recently highlighted what he considers a significant error by the US that enabled China to ascend as a manufacturing superpower.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

The Next Biggest Bull Run In Over 50 Years

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

New York advances casinos at a Bronx golf course and near Mets stadium

NEW YORK (AP) — Casinos proposed for a golf course in the Bronx and next to the New York Mets’ ballpark are poised to cash in on a for the New York City area.

Resilient in face of Trump tariffs, world economy is forecast to grow 3.2% this year, OECD says

WASHINGTON (AP) — The world economy has proven surprisingly durable in the face of President Donald Trump’s trade wars, the Organization for Economic Cooperation and Development said Tuesday, upgrading its outlook for global and U.S. economic growth this year.

Inside: What's Going on Behind the Scenes in DC?

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026

Analysts at JPMorgan have pinpointed the lowest point of the ongoing Bitcoin (CRYPTO: BTC) price fall and also projected a substantial chall

Silver Soars To Record Highs: It's Up 95% In 2025, The Best Year Since 1979

Silver prices surge over 5% as investors rush to secure metal amid tight supplies and global shortage concerns, driving up stocks and mining equities.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Scaramucci Advocates For Market Solutions Amidst Rising Economic Challenges, Says 'People Like Mamdani Will Try And Use Socialist Means To Fix It'

Anthony Scaramucci emphasized the importance of market solutions to address societal issues, warning against potential socialist alternatives.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Dogecoin Fakes A Rally Then Dumps 3%—But Why?

Dogecoin (CRYPTO: DOGE) fell close to 3% on Tuesday, as large holders shifted roughly $32 million worth of DOGE to exchanges, putting sellers back in control.

Weekend Crypto Roundup: Bitcoin's Scarcity, Dogecoin's Resistance, Tether's Rating, Trump's Crypto Ties And Peter Schiff's Warning

From Bitcoin's scarcity debate to Dogecoin's resistance level, the crypto market was buzzing with activity this past week.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Only one lines up grade, scale potential, and Quebec power like this. Insider alignment is real. Stepouts are opening new zones. With EVs and grid buildouts rising, this could be the timely copper idea you have been waiting for.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Shaquille O'Neal Says His Naive Pitch Nearly Wrecked His Wealth: 'If I Get Your Million Now, In A Couple Years, It Will Be A Couple Million'

Shaquille O'Neal has made a remarkable transition from his illustrious sports career to becoming a successful business entrepreneur, with a portfolio estimated to be worth around $500 million.

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

What to know about the apartment tower fire in Hong Kong

HONG KONG (AP) — Hong Kong firefighters were making a final push to try and find any survivors from the city's , going apartment-to-apartment in the high-rise complex in an exhaustive search.

CleanSpark (CLSK) Stock Slips As Bitcoin Drops: What's Going On?

CleanSpark Inc (NASDAQ:CLSK) stock is trading lower Monday afternoon as renewed weakness in Bitcoin

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Weekend Round-Up: Airbus Chaos, BYD's Massive Recall, Tesla's Free FSD Rides, Rivian's Tax Credit Silver Lining And More

From emergency aircraft recalls to massive vehicle recalls in China, to free self-driving rides in Europe, the past week was buzzing in the auto and tech sector.

Trending Now