Meg Whitman steps down as HP Enterprise CEO

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Meg Whitman, who oversaw the breakup of one of Silicon Valley's pioneering companies, is stepping down as CEO of Hewlett Packard Enterprise Co. For the January quarter, HPE forecast adjusted earnings of 22 cents a share at its midpoint of guidance vs. estimates of 28 cents. The company's P/E (price to earnings) ratio is 76.32 and Forward P/E ratio of 11.81.

As well as the leadership shakeup, HPE shared its earnings report on Tuesday. The company reported the earnings of $0.3/Share in the last quarter where the estimated EPS by analysts was $0.26/share. The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.78 billion. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%.

Revenue in the fourth quarter also fell short of projections.

President Antonio Neri will take on the role of CEO as of February 1, 2018, and both Whitman and Neri will be on the board, the company announced Tuesday. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.29%.

While looking at the Stock's Performance, Hewlett Packard Enterprise Company now shows a Weekly Performance of 6.41%, where Monthly Performance is -0.91%, Quarterly performance is 2.79%, 6 Months performance is -3.74% and yearly performance percentage is 5.09%.

Whitman said Tuesday she plans on taking "a little bit of downtime" after a 35-year career. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

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A number of equities research analysts have recently commented on the company. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $18.00 target price on shares of Hewlett Packard Enterprise in a report on Friday, August 18th. The company has an average rating of Hold and a consensus target price of $17.49.

She set about slashing jobs and dramatically resetting investors' expectations of how well the company could perform, at a time when customers were adopting cloud computing services that HP was ill equipped to provide.

Chief Executive Meg Whitman will step down early next year. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Whitman's tenure was also littered with layoffs. The stock was sold at an average price of $13.67, for a total value of $3,404,144.41. The company had Year Ago Sales of 12.48 Billion. The disclosure for this sale can be found here. The Stock now has a Weekly Volatility of 2.30% and Monthly Volatility of 1.99%. Company insiders own 0.87% of the company's stock.

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Hewlett Packard Enterprise Company is a provider of technology solutions.