Wall Street analysts expect Red Hat Inc (NYSE:RHT) to announce $887.13 million in sales for the current quarter, Zacks reports. Eleven analysts have made estimates for Red Hat’s earnings, with the highest sales estimate coming in at $902.45 million and the lowest estimate coming in at $876.90 million. Red Hat posted sales of $772.33 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The company is scheduled to issue its next earnings results after the market closes on Monday, March 25th.

On average, analysts expect that Red Hat will report full year sales of $3.38 billion for the current fiscal year, with estimates ranging from $3.36 billion to $3.39 billion. For the next financial year, analysts anticipate that the business will report sales of $3.86 billion, with estimates ranging from $3.78 billion to $3.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Red Hat.

Red Hat (NYSE:RHT) last announced its earnings results on Monday, December 17th. The open-source software company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. Red Hat had a net margin of 8.66% and a return on equity of 33.96%. The business had revenue of $847.00 million during the quarter, compared to analysts’ expectations of $852.79 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis.

A number of brokerages have commented on RHT. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a report on Monday, December 31st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $190.00 price target (up from $186.00) on shares of Red Hat in a research report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $166.54.

In related news, EVP Michael Cunningham sold 25,000 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the completion of the transaction, the executive vice president now owns 25,071 shares in the company, valued at $4,482,444.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Red Hat by 11,583.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock valued at $57,000 after buying an additional 10,009,030 shares in the last quarter. Norges Bank acquired a new stake in Red Hat during the 4th quarter valued at approximately $297,683,000. Neuberger Berman Group LLC lifted its stake in Red Hat by 761.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock valued at $137,752,000 after acquiring an additional 893,465 shares during the period. Alpine Associates Management Inc. acquired a new stake in Red Hat during the 4th quarter valued at approximately $112,183,000. Finally, Glenmede Trust Co. NA lifted its stake in Red Hat by 148.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 843,945 shares of the open-source software company’s stock valued at $115,012,000 after acquiring an additional 504,787 shares during the period. 88.56% of the stock is currently owned by institutional investors and hedge funds.

RHT stock traded up $0.09 during midday trading on Monday, reaching $181.67. 836,011 shares of the company’s stock traded hands, compared to its average volume of 1,309,916. Red Hat has a 52-week low of $115.31 and a 52-week high of $183.54. The stock has a market cap of $32.10 billion, a P/E ratio of 78.99, a P/E/G ratio of 4.02 and a beta of 0.55. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23.

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

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