Analysts expect Red Hat Inc (NYSE:RHT) to announce earnings per share (EPS) of $0.79 for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Red Hat’s earnings, with estimates ranging from $0.61 to $0.82. Red Hat posted earnings per share of $0.61 during the same quarter last year, which would indicate a positive year over year growth rate of 29.5%. The firm is expected to report its next quarterly earnings report on Monday, March 26th.

On average, analysts expect that Red Hat will report full year earnings of $2.87 per share for the current fiscal year, with EPS estimates ranging from $2.78 to $2.89. For the next fiscal year, analysts forecast that the firm will report earnings of $3.27 per share, with EPS estimates ranging from $2.63 to $3.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Red Hat.

Red Hat (NYSE:RHT) last posted its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. 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. During the same period in the previous year, the business posted $0.61 EPS. The company’s quarterly revenue was up 21.6% on a year-over-year basis.

Several research firms have recently commented on RHT. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a report on Wednesday, December 20th. BMO Capital Markets lifted their price target on shares of Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, December 20th. BTIG Research lifted their price target on shares of Red Hat from $120.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Wells Fargo & Co set a $144.00 price target on shares of Red Hat and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $120.00 price target (up from $113.00) on shares of Red Hat in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $124.25.

In other Red Hat news, Director William S. Kaiser sold 14,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders have sold a total of 22,172 shares of company stock worth $2,592,577 over the last 90 days. 0.66% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in RHT. Robeco Institutional Asset Management B.V. raised its position in shares of Red Hat by 453.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 37,951 shares of the open-source software company’s stock worth $3,634,000 after buying an additional 31,100 shares in the last quarter. Andra AP fonden raised its position in shares of Red Hat by 45.2% during the 2nd quarter. Andra AP fonden now owns 24,100 shares of the open-source software company’s stock worth $2,308,000 after buying an additional 7,500 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Red Hat by 32.4% during the 2nd quarter. Principal Financial Group Inc. now owns 366,172 shares of the open-source software company’s stock worth $35,061,000 after buying an additional 89,567 shares in the last quarter. Commerce Bank raised its position in shares of Red Hat by 1.7% during the 2nd quarter. Commerce Bank now owns 13,701 shares of the open-source software company’s stock worth $1,312,000 after buying an additional 233 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Red Hat by 14.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,747 shares of the open-source software company’s stock worth $167,000 after buying an additional 226 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

Red Hat (RHT) traded up $0.94 during midday trading on Tuesday, hitting $121.04. 2,360,459 shares of the stock traded hands, compared to its average volume of 1,780,000. Red Hat has a 1-year low of $68.95 and a 1-year high of $130.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30. The firm has a market cap of $21,420.00, a price-to-earnings ratio of 65.78, a PEG ratio of 3.67 and a beta of 1.19.

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About Red Hat

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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Earnings History and Estimates for Red Hat (NYSE:RHT)

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