These 5 Companies Recently Cut Their Profit Forecast

3. Hewlett Packard Enterprise Company (NYSE:HPE)

Number of Hedge Fund Holders: 43

Hewlett Packard Enterprise Company (NYSE:HPE) offers expertise in financial technology, computer hardware, computer software, cloud computing, internet of things, artificial intelligence, and computer networking. On June 1, Hewlett Packard Enterprise Company (NYSE:HPE) reported financial results for Q1 2022, posting an EPS of $0.44 and a revenue of $6.71 billion, falling short of analysts’ predictions by $0.01 and $86.58 million, respectively. 

The company slashed its full-year profit forecast, attributing it to unfavorable currency movements, supply chain challenges, and the lost market share in Russia after the war. Profit for the year is expected to clock in at $2.10 per share, which is $0.07 lower than the prior guidance issued in March. 

According to Insider Monkey’s database, 43 hedge funds were bullish on Hewlett Packard Enterprise Company (NYSE:HPE) at the end of March 2022, compared to 35 funds in the earlier quarter. Richard S. Pzena’s Pzena Investment Management is the largest stakeholder of the company, with 37.5 million shares worth about $628 million.