Zacks: Analysts Anticipate Red Hat Inc (NYSE:RHT) to Post $0.86 Earnings Per Share

Wall Street analysts forecast that Red Hat Inc (NYSE:RHT) will post earnings of $0.86 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Red Hat’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.81. Red Hat reported earnings per share of $0.72 during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.4%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, June 20th.

On average, analysts expect that Red Hat will report full-year earnings of $3.99 per share for the current financial year, with EPS estimates ranging from $3.88 to $4.11. For the next financial year, analysts expect that the firm will report earnings of $4.59 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Red Hat.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. The company had revenue of $879.00 million during the quarter, compared to the consensus estimate of $885.64 million. During the same period last year, the company earned $0.91 EPS. Red Hat’s revenue for the quarter was up 13.8% on a year-over-year basis.

Separately, ValuEngine downgraded Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Red Hat presently has a consensus rating of “Hold” and a consensus target price of $168.33.

Large investors have recently made changes to their positions in the stock. Athena Capital Advisors LLC bought a new position in shares of Red Hat during the 4th quarter valued at approximately $27,000. Berman Capital Advisors LLC bought a new position in shares of Red Hat during the 4th quarter valued at approximately $27,000. Liberty Wealth Management LLC bought a new position in shares of Red Hat during the 4th quarter valued at approximately $30,000. Advisory Alpha LLC bought a new position in shares of Red Hat during the 1st quarter valued at approximately $32,000. Finally, Glassman Wealth Services grew its stake in shares of Red Hat by 58.0% during the 1st quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock valued at $38,000 after acquiring an additional 76 shares during the period. Institutional investors own 85.94% of the company’s stock.

NYSE RHT traded down $0.34 during trading hours on Friday, hitting $185.20. The company’s stock had a trading volume of 1,066,822 shares, compared to its average volume of 1,453,401. Red Hat has a 12 month low of $115.31 and a 12 month high of $186.36. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 66.38, a PEG ratio of 4.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.27 and a current ratio of 1.27.

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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