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

Is Big Pharma's Next Target Already in Play? - Ad

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

Trump Just Signed s.1582 Into Law - Now the Countdown Begins... - Ad

Popular

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.

Trump's Approval Rating Hits Lowest Since Returning To Office, With Support Falling Among Republicans, Independents

Trump's approval rating hits new low as Republican and independent support drops. Economy, immigration, and budget handling are major concerns.

First Drug to Show Breakthrough Myocarditis Data. Analysts See Potential 7-10x Upside.

First Drug to Show Breakthrough Myocarditis Data. Analysts See Potential 7-10x Upside. - Ad

This biotech just delivered a medical first in myocarditis and has a Phase 3 trial fully funded into 2027. Wall Street targets imply massive revaluation ahead.

Trump Threatens Air Traffic Controllers Amid Shutdown Chaos; Pete Buttigieg Says He 'Wouldn't Last Five Minutes' in Their Job

President Donald Trump has demanded that all air traffic controllers return to work as the nation's aviation system endured another wave of mass flight cancellations, caused by staffing shortages due to the prolonged government shutdown.

Velo3D Stock Soars After Q3 Earnings: Highlights From The Report

Shares of Velo3D, Inc. (NASDAQ:VELO) are rising Tuesday after the metal 3D printing company reported third-quarter earnings results.

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.

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Chuck Schumer Says 41-Day Shutdown Has Exposed Trump's 'Cruelty,' Accuses President Of Holding Innocent Kids, Veterans As 'Political Hostages'

Schumer condemns Trump's 'cruelty' behind longest shutdown in U.S. history, as thousands of Americans suffer from furloughs and disrupted services.

Copper, Silver, Gold, Tungsten - This Nevada Play Offers Multiple Shots on Goal

Copper, Silver, Gold, Tungsten - This Nevada Play Offers Multiple Shots on Goal - Ad

Most early-stage resource opportunities rely on one metal. This one doesn't. The Walker Lane belt hosts copper, silver, gold, and tungsten - and recent results across the district confirm all four. This startup has stepped in with multi-metal exposure, giving investors several potential ways to capture upside.

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.

Asian shares are mostly lower despite Wall St rally and a potential end to the US shutdown

BANGKOK (AP) — Asian shares were mostly lower on Tuesday as the recent rebound fueled by buying of technology shares lost steam.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

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.

Coreweave, Rocket Lab, AST Spacemobile, Rigetti And Bigbear.Ai: Why These 5 Stocks Are On Investors' Radars Today

Major U.S. indexes closed higher on Monday, with the Dow Jones Industrial Average climbing 0.8% to 47,368.63.

Urgent Copper Stock With Strong Catalysts

Urgent Copper Stock With Strong Catalysts - Ad

China's car sales slow in October as some trade-in subsidies, tax breaks are phased out

BANGKOK (AP) — China's passenger car sales slowed in October, even for electric vehicle makers BYD and Tesla, as automakers cut prices to compete in an overcrowded market, an industry association said Tuesday.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

$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.

In Trump-dominated media world, editing video takes on new significance — as BBC uproar shows

In the space of a few months, one of the more straightforward journalistic tasks — editing tape for broadcast — has been behind a $16 million legal settlement, a network's change in how it offers interviews on a news show and, now, the resignation of two top leaders at the BBC.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

A Tiny Biotech Just Posted 10× Stronger Cancer Results

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

Early studies show this breakthrough delivery platform would make cancer treatments safer and more powerful. Now, with Big Pharma watching closely, investors are starting to take notice of what could be the next major biotech story.

What's Going On With Papa John's (PZZA) Stock Today? (UPDATED)

Shares of Papa John's International, Inc. (NASDAQ: PZZA) moved higher on Monday. Here's what you need to know.

Elon Musk Says Tesla, xAI Are 'Trending Towards Convergence' In Some Ways

Elon Musk's companies could potentially merge in the future as he continues to integrate AI into his ventures.

Is Big Pharma's Next Target Already in Play?

Is Big Pharma's Next Target Already in Play? - Ad

A small biotech may have cracked one of medicine's biggest problems-how to deliver cancer drugs safely and effectively. With patented technology and promising early data, it's already catching the attention of Big Pharma.

Analyst Sees Strong Medtronic Momentum Through 2026 With Buy Rating Intact

BofA expects Medtronic to post over 5% second-quarter revenue growth and maintain strong momentum through 2026, driven by robust procedure trends.

Donald Trump Administration's Unprecedented Investment In Private Firms Raises Eyebrows

President Trump administration has invested over $10 billion of taxpayer funds in private companies deemed crucial to national security.

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.

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.

Watchdog group Public Citizen demands OpenAI withdraw AI video app Sora over deepfake dangers

The tech industry is moving fast and breaking things again — and this time it is humanity’s shared reality and control of our likeness before and after death — thanks to artificial intelligence image-generation platforms .

Trump Just Signed s.1582 Into Law - Now the Countdown Begins...

Trump Just Signed s.1582 Into Law - Now the Countdown Begins... - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on December 18. Investors who make the right moves before then could make up to 40X by 2032...

Serbian protesters vow to prevent real estate project linked to Trump son-in-law Kushner

BELGRADE, Serbia (AP) — Thousands of protesters in Serbia symbolically formed a human shield Tuesday around a bombed-out military complex, vowing to protect it from redevelopment as a luxury compound by a company linked to U.S. President Donald Trump’s son-in-law .

Elon Musk Says SpaceX Will Carry '99% Of All Earth Payload' Once Starship Flies Daily

Elon Musk says SpaceX will handle nearly all of Earth's orbital payloads in the coming years as Starship development continues.

First Drug to Show Breakthrough Myocarditis Data. Analysts See Potential 7-10x Upside.

First Drug to Show Breakthrough Myocarditis Data. Analysts See Potential 7-10x Upside. - Ad

This biotech just delivered a medical first in myocarditis and has a Phase 3 trial fully funded into 2027. Wall Street targets imply massive revaluation ahead.

Gen Z Takes To 'Income Stacking' As One Pay Check Falls Short

Gen Zers are turning to income stacking to secure their financial future as they fear a single paycheck won't be enough. AI and broken social contract fuel the shift. Side hustles becoming core of young careers.

Auto Industry Faces 'EV Winter' Amid Policy Shifts and Supply Chain Woes

The US auto industry is currently facing a myriad of obstacles that are posing a threat to the expansion of EVs.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Weekend Round-Up: TSMC Trade Secrets Lawsuit, Google Deepmind Scientist's Market Slam, Baidu Layoffs, Amazon's Court Victory And More

From allegations of trade secret leaks at Taiwan's TSMC to layoffs at Baidu Inc, here's a recap of tech news this week.

Why Is Occidental Petroleum Stock Gaining Tuesday?

Analysts highlight OXY's robust earnings, production guidance, and expanded resource base as key growth drivers.

Copper, Silver, Gold, Tungsten - This Nevada Play Offers Multiple Shots on Goal

Copper, Silver, Gold, Tungsten - This Nevada Play Offers Multiple Shots on Goal - Ad

Piper Sandler Set For Best-In-Class Growth As Banking Cycles Turn: Analyst

Piper Sandler (PIPR) upgraded to Buy by Goldman Sachs with a target price of $386, projecting an 18% upside.

Trending Now

Bitcoin dips below $85,000 in crypto currency rout

AP Lifestyles Digest for week of Dec. 1

The Smart Money Copper Trade - Ad

Cathie Wood Dumps $2.4 Million Worth Of Tesla Stock, Doubles Down On These AI Stocks

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

Urgent Copper Stock With Strong Catalysts - Ad

16 Stocks To Buy If You Want To Escape The AI Hype

Jim Cramer's '10 Stocks To Own For The Future' In 2000 Cost This Redditor A Decade Of Retirement, Says Having To Work 10 More Years Was 'Painful'

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

Trump commutes prison sentence for former private equity executive David Gentile

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

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

Lawsuit challenges TSA's ban on transgender officers conducting pat-downs

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Is Big Pharma's Next Target Already in Play? - Ad

Rand Paul Slams GOP's Shift From Fiscal Conservatism: They Voted To Add '$5 Trillion' To The Debt Ceiling — Calls It 'Decimation'

How Tyson's Chicken Business Will Offset Beef Weakness

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

Barrick's Breakup Rumors, North America Versus The World

A lost generation of news consumers? Survey shows how teenagers dislike the news media

Trump Just Signed s.1582 Into Law - Now the Countdown Begins... - Ad

Movie Review: Time has outrun this 'Running Man'

Airbus Orders Emergency Recall Of 6,000 A320 Jets After JetBlue Incident, Triggering Global Flight Delays And Holiday Travel Chaos

First Drug to Show Breakthrough Myocarditis Data. Analysts See Potential 7-10x Upside. - Ad

Yemen's Houthi rebels signal that they've stopped attacks on Israel and Red Sea shipping

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

Weiss Gold Veteran Makes Shocking New Call - Ad

Why 12-Year-Old Mark Zuckerberg Built A Little Messaging Network For The Family Member Who Reportedly Wrote Him $100,000 Check To Start Facebook

Tax-Free Student Loan Forgiveness Expires In 2026, Who Owes More Next Year?

Copper, Silver, Gold, Tungsten - This Nevada Play Offers Multiple Shots on Goal - Ad

The Key to a Winning 401(k)

Trump Bars South Africa From 2026 G20 Summit In Florida, Freezes Aid Over 'White Genocide'

The Smart Money Copper Trade - Ad

Axon Enterprise: From TASER To AI-Powered Public Safety Platform

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

Urgent Copper Stock With Strong Catalysts - Ad

US Senate Discloses Landmark Crypto Market Structure Bill, Eyes Passage By Late 2025

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

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

Elon Musk Says Bitcoin Is Based On Energy, The 'True Currency' — Tesla CEO Says His 'Interesting Side Quest' DOGE Is Still Going On

Iran confirms seizure of oil tanker in the Strait of Hormuz

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

Everyday volunteers are providing stopgap services during the shutdown in a show of community power

Is Big Pharma's Next Target Already in Play? - Ad

What to know about the apartment tower fire in Hong Kong

Jim Cramer Notes 'Horrible' Bitcoin Start To December As BTC Falls By $4,000 In Minutes

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

Trump Hints At Tax Cut, John Bolton Warns Of Peace Prize Ambitions And More: This Week in Politics

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

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.