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

Crypto Stocks Are Heating Up - Ad

An Electric Aircraft Company With Potential to Break Out - Ad

Former Trump Advisor: "This Could Destroy Families" - Ad

One of the striking things about how furiously many people reacted to the news last week that MSNBC “Morning Joe” hosts Joe Scarborough and Mika Brzezinski was how quaint their defenders sounded.

Joe Rogan Says Harris Avoided Podcast Due To One Issue

Joe Rogan opened up about the reasons why an interview with Kamala Harris before the 2024 election never happened.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Stocks to Buy (and Sell) Before Inauguration Day

Experts predict Trump's policies will positively affect energy, finance, defense sectors; stocks to buy include EPD, JPM, LMT, while others may decline.

Palantir Board Member In A Deleted X Post Said Nasdaq Move Will 'Force Billions In ETF Buying And Deliver Tendies': Here's What This Meme-Stock Term Means

Palantir Technologies Inc has been making headlines after its board member, and partner at 8VC, Alex Moore deleted his X (formerly Twitter) account after saying in a tweet that its move to Nasdaq will "force billions in ETF buying."

What's Going On in This Strange Facility Near Mar-A-Lago?

What's Going On in This Strange Facility Near Mar-A-Lago? - Ad

Most people have no clue this unassuming facility exists. Yet the minute Donald Trump takes office... This could be the most important building in America. More important than the Capital, the Pentagon... even the White House. Because this may well be the epicenter of Trump's New Manhattan Project.

China's aging population fuels 'silver economy' boom, but profits can prove elusive

HONG KONG (AP) — Every Wednesday, retiree Zhang Zhili travels an hour by bus to an education center, drawn by the pulsing rhythms of the African drum she plays there in a classroom filled with fellow retirees whose hands move in unison, every beat lifting her spirits.

Crypto Analyst Sees Shiba Inu Surging More Than 2,000% In Coming Rally

A market analyst says Shiba Inu (CRYPTO: SHIB) could experience a massive rally, predicting gains exceeding 2,000%. What Happened: The forecast has sparked excitement among the cryptocurrency's community as SHIB continues to gain traction as a leading meme coin.

Donald Trump Can't Save You From This Crisis

Donald Trump Can't Save You From This Crisis - Ad

A huge economic crisis is about to strike America. 12 months from today, our country could be unrecognizable. That's why I've recorded this video and released it for free. Inside, I lay out exactly what's happening and several critical moves I believe every American should make right now.

Trader Turns $160 Into $6M In Just 12 Days With 'Chill Guy' Meme Coin But Insider Trader Concerns Arise

A trader won a fortune betting on a cryptocurrency inspired by a viral internet meme, which is now worth more than $500 million in market capitalization. What Happened: On-chain tracking platform Lookonchain took to X Wednesday, highlighting the extraordinary trade of Just a chill guy (CHILLGUY) token.

Hyundai recalling over 226,000 cars and SUVs to fix rearview cameras that can fail

DETROIT (AP) — Hyundai is recalling more than 226,000 SUVs and small cars in the U.S. because the rearview camera image may not show up on the screens.

A Huge Crack Is Forming in the US Economy

A Huge Crack Is Forming in the US Economy - Ad

A former Trump Advisor has uncovered alarming information that could impact your financial security over the next few months. These new stock market highs are built on shaky foundations. A huge crack is forming in the American economy. The elites know all about it, but most ordinary citizens have no idea.

Austria says Russia's Gazprom will cut off natural gas supply this weekend

VIENNA (AP) — Russia’s state-owned natural gas company Gazrom will cut off supplies to Austria’s OMV utility early Saturday, Austria’s chancellor said, adding that his country’s underground gas storage was full and that it had alternative, non-Russia supplies.

Small business owners breathe easier over labor costs after decision to strike down overtime rule

Small business owners have had a mostly positive reaction to a judge's decision to that would have qualified more workers for overtime pay.

$1 Electric Aviation Stock With Tremendous Potential

$1 Electric Aviation Stock With Tremendous Potential - Ad

The electric aviation market is just taking off, and this company is at the forefront. With significant revenue and strategic partnerships, this stock is poised to make a big impact.

What to know about Scott Bessent, Trump's pick for treasury secretary

WASHINGTON (AP) — has chosen money manager Scott Bessent, an advocate for deficit reduction and deregulation, to serve as his next treasury secretary.

As US ramps up nuclear power, fuel supplier plans to enrich more uranium domestically

OAK RIDGE, Tenn. (AP) — A supplier of fuel for nuclear power plants announced a $60 million expansion in Tennessee on Wednesday, promising to resume and grow its manufacturing of high-tech centrifuges there to enrich uranium at its facility in Ohio.

Crypto Stocks Are Heating Up

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Mike Tyson Discloses Near-Death Experience Before Jake Paul Fight

In a shocking revelation, boxing legend Mike Tyson disclosed that he had a near-death experience just months before his fight with Jake Paul.

Alaska political leaders hope to see Trump undo restrictions on oil drilling

JUNEAU, Alaska (AP) — President-elect Donald Trump during his campaign to expand oil drilling in the U.S., which is good news for political leaders in Alaska, where oil is the economic lifeblood and many felt the Biden administration has obstructed efforts to boost the state's diminished production.

Crypto Stocks Are Heating Up

Crypto Stocks Are Heating Up - Ad

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

Stock market today: Asian stocks track Wall Street gain with Nvidia report and bitcoin surge

HONG KONG (AP) — Asian stock rose on Friday following Wall Street gain after market and another round of companies said they’re making even fatter profits than expected.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Australian Senate begins debate on world-first social media ban for children under 16

MELBOURNE, Australia (AP) — The Australian Senate on Thursday began considering a from social media after the House of Representatives overwhelmingly supported the age restriction.

Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured

In a tragic incident early Wednesday, a Tesla Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury.

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett?

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett? - Ad

Billionaires Warren Buffett, Stanley Druckenmiller, and David Tepper have all sold off massive U.S. stock positions. Billionaire Ray Dalio, who runs one of the world's most successful hedge funds, says, "Things are going to get worse for our economy." What are these billionaires so worried about?

VinFast Powers Ahead: Q3 Sales Surge 49%, Vehicle Deliveries Double & More

VinFast reports Q3 results that came above expectations. The company, which is focused on balancing revenue growth and optimizing costs, reiterated its annual delivery target of 80,000 vehicles.

Israel-Hezbollah Ceasefire Violations Spark Tensions, IDF Strikes Southern Lebanon: Oil Prices Surge

Israel's ceasefire agreement with Hezbollah which entered into force on Wednesday appears to be unraveling after alleged violations by the Lebanese militant group prompted an Israeli military response.

24/7 Automated Profits in Crypto

24/7 Automated Profits in Crypto - Ad

All key indicators are flashing the same signal: an altcoin season is fast approaching. Access this exclusive workshop for early access to their next set of altcoin picks, a step-by-step blueprint for finding the next big altcoin winners, and a sneak peak at their crypto trading system with a 90% win rate.

Macy's says employee hid up to $154 million in expenses, delays Q3 earnings

Macy's reported weaker-than-expected preliminary sales for the fiscal third quarter and said it's delaying the release of its quarterly earnings results after it discovered an up to $154 million accounting-related issue.

Tesla Cybertruck Part Of Donald Trump's Motorcade, Will Vehicle Land Government Deals?

Donald Trump's motorcade near SpaceX's Starbase featured a Tesla Cybertruck. Here's what it could mean.

Has the Tech Stock Selloff Finally Arrived?

Has the Tech Stock Selloff Finally Arrived? - Ad

After soaring over 150% in 2024 alone... is it actually time to buy Nvidia? A 50-year Wall Street veteran gives his answer to Nvidia, right here...Including the name and ticker of one under-the-radar AI stock to buy instead of Nvidia... before Tuesday, December 3rd.

Trump's Energy Policies Poised To Reshape Oil & Gas Market: Winners And Losers Revealed

Trump's energy plans could reshape US markets with potential tariffs, increased production, and LNG exports. Goldman Sachs breaks down winners and losers.

As Nvidia Maintains Chip Supremacy, Jim Cramer Says Foes Of Semiconductor Giant 'Aren't Really Enemies'

NVIDIA Corp. continues solidifying its dominance in the artificial intelligence semiconductor market, with CNBC's Jim Cramer emphatically declaring that no company can successfully challenge the tech giant's technological supremacy.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Swiss 'AI Jesus' project to bridge digital and the divine draws users' praise, as questions remain

LUCERNE, Switzerland (AP) — Would you trust an “AI Jesus” with your innermost thoughts and troubles?

Stock Of The Day: Autodesk Beats Earnings As Shares Find Support At This Level

Shares or Autodesk (ADSK) are trading lower despite beating earnings. Some investors are selling over concerns of reduced margins.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Trump fills out his economic team with two veterans of his first administration

WEST PALM BEACH, Fla. (AP) — President-elect is turning to two officials with experience navigating not only Washington but the key issues of income taxes and tariffs as he fills out his economic team.

Trending Now