Red Hat (RHT) Releases Earnings Results, Beats Estimates By $0.03 EPS

Red Hat (NYSE:RHT) released its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03, Bloomberg Earnings reports. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company had revenue of $747.98 million for the quarter, compared to the consensus estimate of $734.69 million. During the same quarter in the previous year, the company earned $0.61 EPS. Red Hat’s quarterly revenue was up 21.6% compared to the same quarter last year. Red Hat updated its Q4 guidance to approx $0.81 EPS.

Red Hat (NYSE:RHT) traded up $0.94 during midday trading on Tuesday, hitting $121.04. 2,360,459 shares of the stock traded hands, compared to its average volume of 1,780,000. Red Hat has a 12-month low of $68.95 and a 12-month high of $130.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 1.37. The company has a market cap of $21,420.00, a price-to-earnings ratio of 65.78, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19.

In other news, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total value of $349,534.64. Following the completion of the sale, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the completion of the sale, the executive vice president now owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,172 shares of company stock valued at $2,592,577. Company insiders own 0.66% of the company’s stock.

RHT has been the topic of several research reports. Credit Suisse Group initiated coverage on shares of Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price objective on the stock. Moffett Nathanson initiated coverage on shares of Red Hat in a report on Wednesday, September 6th. They set a “buy” rating on the stock. KeyCorp restated an “overweight” rating and set a $121.00 price objective on shares of Red Hat in a report on Friday, September 8th. JMP Securities upped their price objective on shares of Red Hat from $107.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Finally, Barclays upped their price objective on shares of Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $124.25.

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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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