Red Hat (NYSE:RHT) announced its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03, Bloomberg Earnings reports. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. The company’s revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. Red Hat updated its Q4 guidance to approx $0.81 EPS.
Shares of Red Hat (NYSE RHT) traded up $1.65 on Thursday, hitting $126.16. The company had a trading volume of 1,811,600 shares, compared to its average volume of 1,890,000. 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 52-week low of $71.50 and a 52-week high of $130.93. The stock has a market capitalization of $22,320.00, a PE ratio of 68.57, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19.
Several research firms have recently weighed in on RHT. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a research report on Wednesday, December 20th. BMO Capital Markets raised their price target on Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a research note on Wednesday, December 20th. BTIG Research raised their price target on Red Hat from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Wells Fargo & Co set a $144.00 price target on Red Hat and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $120.00 target price (up previously from $113.00) on shares of Red Hat in a research note on Wednesday, December 20th. One research 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 presently has a consensus rating of “Buy” and a consensus price target of $124.25.
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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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