Analysts forecast that Red Hat Inc (NYSE:RHT) will announce earnings of $0.87 per share for the current quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Red Hat’s earnings, with estimates ranging from $0.87 to $0.88. Red Hat reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 19.2%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, December 17th.

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 fiscal 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’ EPS averages are a mean average based on a survey of research firms that cover Red Hat.

Red Hat (NYSE:RHT) last released 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 return on equity of 31.80% and a net margin of 9.15%. The company had revenue of $822.75 million during the quarter, compared to analysts’ expectations of $828.12 million. During the same quarter last year, the business posted $0.77 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year.

A number of equities research analysts recently commented on RHT shares. Nomura decreased their target price on Red Hat from $182.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, September 20th. BMO Capital Markets decreased their price target on shares of Red Hat from $177.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, September 20th. Stifel Nicolaus dropped their target price on shares of Red Hat from $172.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, September 20th. Northland Securities downgraded shares of Red Hat from an “outperform” rating to a “market perform” rating in a research note on Monday, October 29th. Finally, Needham & Company LLC assumed coverage on shares of Red Hat in a research note on Monday, October 22nd. They issued a “buy” rating and a $183.00 price target for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $163.48.

In other news, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now owns 361,627 shares of the company’s stock, valued at approximately $45,214,223.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 960 shares of the company’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the completion of the sale, the executive vice president now directly owns 33,217 shares in the company, valued at approximately $4,153,121.51. The disclosure for this sale can be found here. Insiders have sold 3,631 shares of company stock worth $453,984 in the last ninety days. 0.58% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RHT. Massachusetts Financial Services Co. MA raised its position in shares of Red Hat by 155.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 224,567 shares of the open-source software company’s stock valued at $30,176,000 after acquiring an additional 136,525 shares during the period. Aperio Group LLC boosted its holdings in shares of Red Hat by 13.6% in the 2nd quarter. Aperio Group LLC now owns 90,448 shares of the open-source software company’s stock valued at $12,153,000 after buying an additional 10,812 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Red Hat by 7.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,221 shares of the open-source software company’s stock valued at $1,911,000 after purchasing an additional 989 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Red Hat by 15.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,126 shares of the open-source software company’s stock valued at $823,000 after purchasing an additional 800 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Shares of Red Hat stock traded up $0.40 during trading hours on Thursday, hitting $178.25. The company’s stock had a trading volume of 2,063,200 shares, compared to its average volume of 2,203,792. Red Hat has a 12-month low of $115.31 and a 12-month high of $179.49. The company has a market capitalization of $31.30 billion, a price-to-earnings ratio of 77.50, a PEG ratio of 4.62 and a beta of 0.70. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40.

About Red Hat

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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