Q3 2018 EPS Estimates for Red Hat, Inc. (RHT) Raised by Analyst
Red Hat, Inc. (NYSE:RHT) – Equities research analysts at KeyCorp lifted their Q3 2018 earnings per share (EPS) estimates for shares of Red Hat in a research report issued on Monday. KeyCorp analyst A. Kurtz now expects that the open-source software company will earn $0.51 per share for the quarter, up from their prior estimate of $0.50. KeyCorp currently has a “Overweight” rating and a $125.00 target price on the stock. KeyCorp also issued estimates for Red Hat’s Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.02 EPS, Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.65 EPS and FY2019 earnings at $2.40 EPS.
A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group initiated coverage on shares of Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price on the stock. BTIG Research reduced their target price on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Rosenblatt Securities reissued a “buy” rating and set a $112.00 target price (up from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. Finally, Moffett Nathanson initiated coverage on shares of Red Hat in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $110.61.
WARNING: “Q3 2018 EPS Estimates for Red Hat, Inc. (RHT) Raised by Analyst” was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.watchlistnews.com/q3-2018-eps-estimates-for-red-hat-inc-rht-raised-by-analyst/1598469.html.
Red Hat (NYSE RHT) opened at 110.86 on Thursday. The firm has a 50-day moving average of $103.43 and a 200-day moving average of $93.28. Red Hat has a 52 week low of $68.54 and a 52 week high of $110.93. The company has a market capitalization of $19.67 billion, a PE ratio of 75.93 and a beta of 1.24.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after purchasing an additional 479,615 shares during the last quarter. FMR LLC raised its holdings in shares of Red Hat by 10.8% in the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after purchasing an additional 1,085,953 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Red Hat by 28.8% in the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after purchasing an additional 848,777 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Red Hat by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 2,425,693 shares of the open-source software company’s stock valued at $209,823,000 after purchasing an additional 88,232 shares during the last quarter. Finally, DF Dent & Co. Inc. raised its holdings in shares of Red Hat by 2.7% in the first quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock valued at $156,002,000 after purchasing an additional 47,219 shares during the last quarter. Institutional investors own 94.00% of the company’s stock.
In other news, EVP Michael Cunningham sold 4,000 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $96.59, for a total value of $386,360.00. Following the completion of the sale, the executive vice president now owns 30,050 shares in the company, valued at $2,902,529.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $95.70, for a total transaction of $1,148,400.00. Following the completion of the sale, the chief executive officer now owns 422,873 shares of the company’s stock, valued at approximately $40,468,946.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,081 shares of company stock valued at $3,878,714. 0.66% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.