Red Hat (RHT) Issues Earnings Results

Red Hat (NYSE:RHT) issued its quarterly earnings data on Monday. The open-source software company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10, Bloomberg Earnings reports. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The business had revenue of $772.00 million for the quarter, compared to the consensus estimate of $761.87 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. Red Hat updated its Q1 guidance to $0.68 EPS and its FY19 guidance to $3.38-3.41 EPS.

Red Hat (NYSE:RHT) traded up $5.19 during midday trading on Monday, hitting $153.09. The company’s stock had a trading volume of 2,900,807 shares, compared to its average volume of 1,713,488. The stock has a market cap of $26,178.94, a price-to-earnings ratio of 83.66, a P/E/G ratio of 3.92 and a beta of 1.06. Red Hat has a twelve month low of $81.92 and a twelve month high of $157.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37.

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In other Red Hat news, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares in the company, valued at approximately $4,547,765.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The disclosure for this sale can be found here. Insiders have sold a total of 14,686 shares of company stock valued at $1,873,342 in the last quarter. Company insiders own 0.66% of the company’s stock.

RHT has been the topic of a number of recent research reports. Citigroup restated a “buy” rating and set a $148.00 price objective on shares of Red Hat in a research report on Wednesday, December 13th. Barclays reiterated a “buy” rating and issued a $145.00 price target on shares of Red Hat in a report on Wednesday, December 13th. Mizuho increased their price target on Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Cowen reiterated a “buy” rating and issued a $136.00 price target on shares of Red Hat in a report on Monday, December 11th. Finally, Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $131.78.

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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.

Earnings History for Red Hat (NYSE:RHT)

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