Red Hat (RHT) Issues Earnings Results, Beats Estimates By $0.03 EPS

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.

In other Red Hat news, CEO James M. Whitehurst sold 4,211 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $506,835.96. Following the completion of the sale, the chief executive officer now directly owns 380,158 shares in the company, valued at approximately $45,755,816.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the transaction, the executive vice president now directly owns 38,150 shares in the company, valued at approximately $4,591,734. The disclosure for this sale can be found here. Insiders have sold 8,172 shares of company stock valued at $985,517 over the last quarter. 0.66% of the stock is owned by company insiders.

ILLEGAL ACTIVITY WARNING: This story was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://stocknewstimes.com/2018/01/11/red-hat-rht-posts-quarterly-earnings-results-beats-expectations-by-0-03-eps.html.

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.

Earnings History for Red Hat (NYSE:RHT)

Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply