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Red Hat Inc (NYSE:RHT) issued an update on its FY15 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.52-1.54 for the period, compared to the Thomson Reuters consensus estimate of $1.55, American Banking News reports. The company issued revenue guidance of $1.760-1.785 billion, compared to the consensus revenue estimate of $1.75 billion.Red Hat also updated its Q2 guidance to $0.38 EPS.

Red Hat Inc (NYSE:RHT) traded up 1.28% on Wednesday, hitting $53.10. The stock had a trading volume of 3,275,651 shares. Red Hat Inc has a one year low of $41.89 and a one year high of $61.45. The stock’s 50-day moving average is $50.04 and its 200-day moving average is $53.53. The company has a market cap of $10.054 billion and a price-to-earnings ratio of 56.38. Red Hat also was the recipient of unusually large options trading activity on Wednesday. Investors bought 22,908 call options on the company. This represents an increase of 813% compared to the typical volume of 2,508 call options.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, June 18th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $413.97 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts predict that Red Hat Inc will post $1.55 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on RHT shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Red Hat from $40.00 to $46.00 in a research note on Friday, March 28th. On a related note, analysts at Raymond James raised their price target on shares of Red Hat from $59.00 to $63.00 in a research note on Friday, March 28th. Finally, analysts at Robert W. Baird raised their price target on shares of Red Hat from $60.00 to $65.00 in a research note on Friday, March 28th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $62.46.

Red Hat, Inc (NYSE:RHT) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.

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