Equities research analysts predict that Red Hat Inc (NYSE:RHT) will report $0.87 earnings per share for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for Red Hat’s earnings. The highest EPS estimate is $0.88 and the lowest is $0.87. Red Hat posted earnings of $0.73 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 19.2%. The company is expected to announce its next earnings report on Tuesday, December 18th.

On average, analysts expect that Red Hat will report full-year earnings of $3.47 per share for the current year, with EPS estimates ranging from $3.43 to $3.49. For the next financial year, analysts forecast that the company will report earnings of $3.99 per share, with EPS estimates ranging from $3.81 to $4.12. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Red Hat.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The firm had revenue of $822.75 million for the quarter, compared to analysts’ expectations of $828.12 million. During the same quarter in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis.

A number of brokerages have weighed in on RHT. OTR Global lowered Red Hat to a “positive” rating in a research report on Thursday, September 13th. Nomura lowered Red Hat from a “buy” rating to a “hold” rating and boosted their target price for the stock from $175.00 to $190.00 in a research report on Tuesday, October 30th. JPMorgan Chase & Co. lowered shares of Red Hat from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, September 18th. Jefferies Financial Group reduced their price target on shares of Red Hat from $154.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Finally, KeyCorp reduced their price target on shares of Red Hat from $184.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, September 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $163.48.

Shares of RHT stock traded down $0.09 during mid-day trading on Wednesday, reaching $173.41. 342,673 shares of the company’s stock traded hands, compared to its average volume of 4,633,851. Red Hat has a 12 month low of $115.31 and a 12 month high of $177.70. The stock has a market cap of $30.53 billion, a PE ratio of 75.37, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40.

In related news, EVP Delisa Alexander sold 960 shares of the stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the completion of the transaction, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Whitehurst sold 2,513 shares of the stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the transaction, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at $45,214,223.81. The disclosure for this sale can be found here. Insiders have sold 3,631 shares of company stock valued at $453,984 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of RHT. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Red Hat by 16,350.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock valued at $133,000 after purchasing an additional 981 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in Red Hat during the 2nd quarter valued at $134,000. Financial Architects Inc boosted its stake in Red Hat by 95.2% during the 2nd quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock valued at $137,000 after purchasing an additional 500 shares in the last quarter. Truvestments Capital LLC bought a new position in Red Hat during the 3rd quarter valued at $138,000. Finally, Stratos Wealth Partners LTD. bought a new position in Red Hat during the 3rd quarter valued at $146,000. 94.46% of the stock is owned by institutional investors and hedge funds.

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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