Headlines about Red Hat (NYSE:RHT) have trended somewhat positive this week, according to InfoTrie. InfoTrie scores the sentiment of press coverage by reviewing more than 6,000 news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Red Hat earned a media sentiment score of 1.29 on their scale. InfoTrie also assigned news headlines about the open-source software company an news buzz score of 10 out of 10, indicating that recent press coverage is extremely likely to have an effect on the company’s share price in the near future.
Here are some of the news headlines that may have impacted Red Hat’s analysis:
- Zacks: Brokerages Expect Red Hat Inc (RHT) Will Post Quarterly Sales of $853.58 Million (americanbankingnews.com)
- Noteworthy Friday Option Activity: DE, RHT, LRCX (nasdaq.com)
- Zacks: Brokerages Expect Red Hat Inc (RHT) to Post $0.87 EPS (americanbankingnews.com)
- Submissions Open for 2019 Red Hat Certified Professional of the Year Award (finance.yahoo.com)
- Where Does Qualtrics Fit for SAP? (finance.yahoo.com)
Several research firms have recently commented on RHT. Citigroup cut Red Hat from a “buy” rating to a “neutral” rating and increased their target price for the company from $163.00 to $190.00 in a research note on Tuesday, October 30th. Needham & Company LLC cut Red Hat from a “buy” rating to a “hold” rating in a research note on Monday, November 5th. ValuEngine upgraded Red Hat from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 29th. Royal Bank of Canada increased their target price on Red Hat to $190.00 in a research note on Monday, October 29th. Finally, Credit Suisse Group set a $190.00 target price on Red Hat and gave the company a “hold” rating in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $163.48.
Shares of RHT opened at $177.10 on Friday. Red Hat has a 12-month low of $115.31 and a 12-month high of $179.49. The firm has a market cap of $31.37 billion, a P/E ratio of 77.00, a PEG ratio of 4.63 and a beta of 0.70. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm had revenue of $822.75 million for the quarter, compared to analysts’ expectations of $828.12 million. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts predict that Red Hat will post 2.57 EPS for the current fiscal year.
In other Red Hat news, EVP Delisa Alexander sold 960 shares of the stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the sale, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at $4,153,121.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James M. Whitehurst sold 2,513 shares of the stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the sale, the chief executive officer now directly owns 361,627 shares in the company, valued at $45,214,223.81. The disclosure for this sale can be found here. Insiders have sold 3,631 shares of company stock worth $453,984 over the last 90 days. 0.58% of the stock is currently owned by company insiders.
Red Hat Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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