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Red Hat Inc (NYSE:RHT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.38 for the period, compared to the Thomson Reuters consensus estimate of $0.38, ARN reports. The company issued revenue guidance of $432-436 million, compared to the consensus revenue estimate of $426.50 million.Red Hat also updated its FY15 guidance to $1.52-1.54 EPS.

Red Hat Inc (NYSE:RHT) traded up 1.28% during mid-day trading on Wednesday, hitting $53.10. 3,275,651 shares of the company’s stock traded hands. Red Hat Inc has a 52 week low of $41.89 and a 52 week high of $61.45. The stock has a 50-day moving average of $50.04 and a 200-day moving average of $53.53. The company has a market cap of $10.054 billion and a price-to-earnings ratio of 56.38. Red Hat also saw unusually large options trading activity on Wednesday. Traders purchased 22,908 call options on the company. This is an increase of approximately 813% compared to the average volume of 2,508 call options.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.32 earnings per share. Red Hat’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Red Hat Inc will post $1.55 earnings per share for the current fiscal year.

RHT has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Red Hat has a consensus rating of Buy and a consensus 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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