Hewlett-Packard (NYSE:HPQ) Receives Buy Rating From Maxim Group Analysts

The spinoff was carried out on November 2, the first day of the company’s new fiscal year. The shares were sold at an average price of $27.38, for a total transaction of $3,156,694.96. The pro forma amounts do not necessarily reflect what the fiscal 2015 non-GAAP diluted net EPS of Hewlett Packard Enterprise would have been had the separation occurred on November 1, 2014.

The company saw a 9% decline in Enterprise Services revenue, including a 5% decline in Application and Business Services revenue and an 11% decline in revenue from Infrastructure Technology Outsourcing. In recent market movement, the Hewlett Packard Company stock was seen at a 0.92 change from the 50 day moving average, which is +6.89%. On average, analysts predict that Hewlett-Packard Company will post $1.77 EPS for the current year. The FactSet consensus for Hewlett Packard Enterprise Co (NYSE:HPE) is for fourth quarter revenue of $13.5 billion. This is an important indicator as a higher ratio typically suggests that investors are expecting higher future earnings growth compared to companies in the same industry with lower price to earnings ratios.

In a report released today, Nehal Chokshi from Maxim Group upgraded HP Inc (NYSE: HPQ) to Buy, with a price target of $17. How well has Hewlett Packard Company actually performed?

Dan Ives, an analyst at FBR Capital Markets, said he is also looking for insight into whether Hewlett Packard Enterprise is working its way toward acquisitions. 28,729,926 shares of the stock traded hands. After the spinoff, Hewlett-Packard’s new name is simply HP. That was less than analysts’ average projection for 44 cents in profit for the newly formed company that provides servers, services and storage to corporate customers. In taking a deeper look at the stock and where it might be headed, brokerage firms on Wall Street now have a consensus one year price target of $15.62 on the shares. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock.

Hewlett Packard Inc (NYSE:HPQ) is set to release its fourth-quarter fiscal year 2015 earnings tomorrow and this will be the first earnings release after Hewlett Packard split into two separate entities, HP Enterprise (NYSE:HPE) and HP Inc, respectively.

“Hewlett Packard Enterprise and Microsoft share a common vision for how cloud, mobility and industry solutions can be applied to deliver breakthroughs for our clients”, says Mike Nefkens, Hewlett Packard Enterprise executive vice president. In the last 50 and 100 days, Hewlett-Packard is down 47.37% and down 53.34%, respectively.

The CEO for a large Hewlett Packard Enterprise and HP Inc. partner, who did not want to be identified, said he is optimistic about the prospects for both businesses to drive sales growth as more agile and nimble companies.