Stock Buyback Plan Authorized by Hewlett Packard Enterprise (NYSE:HPE) Board of Directors
@Hewlett Packard Enterprise (NYSE: #HPE ) announced that its Board of Directors has initiated a stock repurchase plan, which allows the company to buyback $5.50 billion in shares on Thursday, February 22nd, EventVestor reports. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued. Shares of Hewlett Packard Enterprise (NYSE HPE) traded up $0.21 during trading hours on Friday, reaching $19.16. 14,563,920 shares of the company traded hands, compared to its average volume of 14,160,000. Hewlett Packard Enterprise has a one year low of $12.81 and a one year high of $19.48. The company has a current ratio of 1.06, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm has a market cap of $30,760.00 and a P/E ratio of -191.60. Get Hewlett Packard Enterprise alerts:￼ Enter Your Email Address ￼Submit Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.12. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.07 billion. Hewlett Packard Enterprise had a net margin of 4.52% and a return on equity of 7.40%. Hewlett Packard Enterprise’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. research analysts anticipate that Hewlett Packard Enterprise will post 1.4 EPS for the current year. ￼ The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.57%. Hewlett Packard Enterprise’s payout ratio is -300.00%. Several analysts recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Hewlett Packard Enterprise in a research report on Friday, March 2nd. They set a “neutral” rating and a $21.00 target price for the company. Zacks Investment Research raised shares of Hewlett Packard Enterprise from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, February 27th. UBS Group restated a “neutral” rating and issued a $19.00 price target (up previously from $15.00) on shares of Hewlett Packard Enterprise in a research report on Friday, February 23rd. BMO Capital Markets boosted their price objective on shares of Hewlett Packard Enterprise from $14.00 to $19.00 and gave the company a “market perform” rating in a research report on Friday, February 23rd. Finally, Deutsche Bank boosted their price objective on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.46. In other news, Director Margaret C. Whitman sold 674,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $19.14, for a total transaction of $12,900,360.00. Following the sale, the director now owns 2,167,693 shares of the company’s stock, valued at approximately $41,489,644.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Richard May sold 7,607 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $14.42, for a total transaction of $109,692.94. Following the sale, the executive vice president now directly owns 100,079 shares in the company, valued at approximately $1,443,139.18. The disclosure for this sale can be found here. Insiders have sold a total of 2,217,072 shares of company stock worth $37,963,432 in the last ninety days. Corporate insiders own 1.18% of the company’s stock. Hewlett Packard Enterprise Company Profile Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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