Red Hat (RHT) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Red Hat (NYSE:RHT) announced its earnings results on Monday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02, Analyst Ratings Network.com reports. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $372.10 million.
RHT has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “positive” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Friday. On the ratings front, analysts at JPMorgan Chase & Co. cut their price target on shares of Red Hat (NYSE:RHT) from $43.00 to $39.00 in a research note to investors on Monday, July 22nd. They now have an “underweight” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Friday, July 19th.
One analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and an average target price of $55.60.
Shares of Red Hat (NYSE:RHT) traded down 0.54% during mid-day trading on Monday, hitting $52.93. The stock had a trading volume of 2,594,299 shares. Red Hat has a 1-year low of $44.92 and a 1-year high of $57.81. The stock’s 50-day moving average is $51.96 and its 200-day moving average is $49.98. The company has a market cap of $10.020 billion and a P/E ratio of 67.37.
Red Hat, Inc (NYSE:RHT) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.