Red Hat (NYSE:RHT) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of approx $0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.75. The company issued revenue guidance of $758-763 million, compared to the consensus revenue estimate of $753.63 million.
Red Hat (NYSE RHT) traded up $1.65 on Thursday, hitting $126.16. 1,811,689 shares of the stock were exchanged, compared to its average volume of 1,890,000. The stock has a market cap of $22,320.00, a price-to-earnings ratio of 68.57, a P/E/G ratio of 3.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30. Red Hat has a 12-month low of $71.50 and a 12-month high of $130.93.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. research analysts forecast that Red Hat will post 2.08 earnings per share for the current year.
A number of research analysts have recently commented on RHT shares. Drexel Hamilton restated a buy rating and set a $127.00 price target on shares of Red Hat in a research report on Tuesday, September 19th. Zacks Investment Research raised shares of Red Hat from a hold rating to a buy rating and set a $120.00 price objective for the company in a report on Thursday, September 21st. Stifel Nicolaus reaffirmed a buy rating and set a $115.00 price objective on shares of Red Hat in a report on Wednesday, September 20th. Mizuho reaffirmed a buy rating and set a $125.00 price objective (up from $109.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Deutsche Bank reaffirmed a buy rating and set a $120.00 price objective (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $124.25.
In related news, CEO James M. Whitehurst sold 4,211 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $506,835.96. Following the transaction, the chief executive officer now owns 380,158 shares in the company, valued at $45,755,816.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Kelly sold 2,888 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the transaction, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The disclosure for this sale can be found here. Insiders sold 8,172 shares of company stock worth $985,517 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.
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Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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