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.

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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.

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

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