In the latest trading session, Hewlett Packard Enterprise (HPE) closed at $15.84, marking a -0.31% move from the previous day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Prior to today's trading, shares of the information technology products and services provider had lost 0.5% over the past month. This has was narrower than the Computer and Technology sector's loss of 14.1% and the S&P 500's loss of 7.66% in that time.

Wall Street will be looking for positivity from Hewlett Packard Enterprise as it approaches its next earnings report date. In that report, analysts expect Hewlett Packard Enterprise to post earnings of $0.46 per share. This would mark a year-over-year decline of 11.54%. Our most recent consensus estimate is calling for quarterly revenue of $7.02 billion, up 2.69% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $28.67 billion. These totals would mark changes of +3.57% and +3.2%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Hewlett Packard Enterprise. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Hewlett Packard Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).

Investors should also note Hewlett Packard Enterprise's current valuation metrics, including its Forward P/E ratio of 7.85. This valuation marks a discount compared to its industry's average Forward P/E of 16.26.

Investors should also note that HPE has a PEG ratio of 1.36 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Integrated Systems industry currently had an average PEG ratio of 1.58 as of yesterday's close.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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