Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 4, 2021

Article Excerpt

HEWLETT-PACKARD ENTERPRISE CO., $16.21, New York symbol HPE, is still a hold. The company sells computing services and products, like servers and analytics software, mainly to large corporations and governments. HP Enterprise continues to enjoy strong demand for its software and cloud-computing services, particularly as the COVID-19 pandemic has forced many employees to work from home. In its fiscal 2021 second quarter, ended April 30, 2021, HP Enterprise’s revenue rose 11.5%, to $6.70 billion from $6.01 billion a year earlier. That beat the consensus forecast of $6.61 billion. Thanks to a cost-cutting plan, overall earnings before unusual items jumped 77.9%, to $612 million from $344 million. Per-share earning improved 70.4%, to $0.46 from $0.27, on more shares outstanding. That also exceeded the consensus forecast of $0.42. The restructuring plan should let the company cut at least $800 million from its annual costs by the end of fiscal 2022. HP Enterprise now expects to earn $1.82 to $1.94 a share for all of fiscal 2021. The stock…