Red Hat (NYSE:RHT) is scheduled to be releasing its earnings data after the market closes on Monday, June 18th. Red Hat has set its Q1 guidance at $0.68 EPS and its FY19 guidance at $3.38-3.41 EPS.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $761.87 million. Red Hat had a net margin of 8.86% and a return on equity of 29.36%. The business’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. On average, analysts expect Red Hat to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of Red Hat opened at $174.99 on Friday, according to Marketbeat Ratings. The company has a market cap of $31.25 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07. Red Hat has a twelve month low of $86.73 and a twelve month high of $177.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.36 and a quick ratio of 1.36.
In other news, CEO James M. Whitehurst sold 39,751 shares of Red Hat stock in a transaction on Friday, April 20th. The stock was sold at an average price of $159.29, for a total transaction of $6,331,936.79. Following the completion of the sale, the chief executive officer now owns 349,813 shares of the company’s stock, valued at $55,721,712.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James M. Whitehurst sold 20,529 shares of Red Hat stock in a transaction on Monday, April 30th. The stock was sold at an average price of $164.23, for a total value of $3,371,477.67. The disclosure for this sale can be found here. Insiders have sold 107,376 shares of company stock valued at $17,167,724 in the last three months. Insiders own 0.66% of the company’s stock.
Several brokerages have recently weighed in on RHT. Barclays reaffirmed an “overweight” rating and set a $186.00 price target on shares of Red Hat in a research note on Thursday. Monness Crespi & Hardt raised their target price on shares of Red Hat from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 14th. Robert W. Baird reissued a “hold” rating and issued a $170.00 target price on shares of Red Hat in a research note on Wednesday, May 9th. Royal Bank of Canada raised their target price on shares of Red Hat to $180.00 and gave the company a “positive” rating in a research note on Wednesday, May 9th. Finally, Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $157.76.
Red Hat Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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