Wall Street analysts expect that Red Hat, Inc. (NYSE:RHT) will report sales of $734.38 million for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Red Hat’s earnings. The highest sales estimate is $735.95 million and the lowest is $733.30 million. Red Hat reported sales of $615.26 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The company is scheduled to report its next earnings results on Wednesday, December 20th.

On average, analysts expect that Red Hat will report full-year sales of $734.38 million for the current year, with estimates ranging from $2.89 billion to $2.91 billion. For the next year, analysts anticipate that the company will post sales of $3.31 billion per share, with estimates ranging from $3.20 billion to $3.39 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Red Hat.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS.

A number of research analysts recently commented on the company. Robert W. Baird reissued a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. BTIG Research reissued a “buy” rating and issued a $120.00 price target on shares of Red Hat in a report on Wednesday, September 27th. Barclays PLC boosted their price target on Red Hat from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, September 26th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $128.00 price target (up from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Red Hat presently has an average rating of “Buy” and an average target price of $110.93.

Red Hat (NYSE:RHT) opened at 121.80 on Friday. Red Hat has a 12 month low of $68.54 and a 12 month high of $122.36. The firm has a market cap of $21.55 billion, a P/E ratio of 72.89 and a beta of 1.25. The stock has a 50 day moving average of $112.18 and a 200-day moving average of $98.26.

In other news, Director William S. Kaiser sold 14,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael A. Kelly sold 2,888 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total value of $349,534.64. Following the transaction, the insider now directly owns 8,751 shares in the company, valued at approximately $1,059,133.53. The disclosure for this sale can be found here. Insiders have sold a total of 35,693 shares of company stock worth $4,078,446 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Red Hat during the 3rd quarter worth $716,000. Robeco Institutional Asset Management B.V. grew its position in shares of Red Hat by 70.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 64,870 shares of the open-source software company’s stock worth $7,191,000 after buying an additional 26,919 shares in the last quarter. Shell Asset Management Co. grew its position in shares of Red Hat by 31.5% during the 3rd quarter. Shell Asset Management Co. now owns 29,126 shares of the open-source software company’s stock worth $1,635,000 after buying an additional 6,983 shares in the last quarter. Perpetual Ltd bought a new position in shares of Red Hat during the 2nd quarter worth $5,077,000. Finally, Intl Fcstone Inc. bought a new position in shares of Red Hat during the 2nd quarter worth $204,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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Red Hat Company Profile

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.

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Earnings History and Estimates for Red Hat (NYSE:RHT)

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