Why Hewlett Packard Enterprise (HPE) Stock Is Trading Lower

Hewlett Packard Enterprise Co HPE shares are trading lower on Wednesday after the company reported mixed earnings and issued third-quarter guidance below estimates.

Hewlett Packard reported earnings of $6.97 billion, below estimates of $7.31 billion, and EPS of 52 cents beating estimates of 48 cents.

HPE said it expects third-quarter revenue of $6.7 billion to $7.2 billion versus estimates of $7.24 billion. The company expects third-quarter EPS to be between 44 cents and 48 cents versus estimates of 46 cents.

Analysts Cut Price Targets:

• Barclays lowered its price target from $18 to $16. Analyst Tim Long maintained an Equal-Weight rating on the stock
• Credit Suisse lowered its price target from $19 to $18. Analyst Shannon Cross maintained an Outperform rating on the stock
• Deutsche Bank lowered its price target from $16 to $15. Analyst Sidney Ho maintained a Hold rating on the stock

Related Link: Hewlett Packard Edge Computing's Promise Amidst Dwindling Compute Sales: Analysts

HPE Price Action: According to Benzinga Pro, Hewlett Packard was trading down over 6%, at $14.57, at the time of publication.

Photo: courtesy of Hewlett Packard.