Q3 2018 EPS Estimates for Red Hat, Inc. Cut by William Blair (RHT)
Red Hat, Inc. (NYSE:RHT) – Stock analysts at William Blair dropped their Q3 2018 earnings per share estimates for Red Hat in a research report issued on Tuesday. William Blair analyst J. Ader now anticipates that the open-source software company will post earnings per share of $0.49 for the quarter, down from their previous forecast of $0.50.
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 for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period in the prior year, the company earned $0.55 EPS. Red Hat’s revenue was up 20.6% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Q3 2018 EPS Estimates for Red Hat, Inc. Cut by William Blair (RHT)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/09/30/q3-2018-eps-estimates-for-red-hat-inc-cut-by-william-blair-rht.html.
Other analysts have also issued reports about the company. Deutsche Bank AG reiterated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Red Hat in a research report on Tuesday. Robert W. Baird lifted their price objective on Red Hat from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 21st. Mizuho lowered their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Red Hat in a research report on Tuesday, September 19th. Finally, Jefferies Group LLC lifted their price objective on Red Hat to $100.00 and gave the stock a “hold” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Red Hat has an average rating of “Buy” and an average target price of $110.61.
Shares of Red Hat (NYSE RHT) opened at 110.86 on Thursday. The firm has a 50-day moving average of $103.43 and a 200-day moving average of $93.28. The firm has a market capitalization of $19.67 billion, a P/E ratio of 75.93 and a beta of 1.24. Red Hat has a one year low of $68.54 and a one year high of $110.93.
In other Red Hat news, EVP Delisa Alexander sold 2,444 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $98.25, for a total transaction of $240,123.00. Following the transaction, the executive vice president now owns 41,570 shares of the company’s stock, valued at approximately $4,084,252.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the transaction, the chief financial officer now directly owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. Insiders have sold a total of 40,081 shares of company stock worth $3,878,714 in the last ninety days. Insiders own 0.66% of the company’s stock.
Several large investors have recently bought and sold shares of RHT. D.A. Davidson & CO. increased its position in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new position in shares of Red Hat during the 2nd quarter worth approximately $112,000. Sun Life Financial INC increased its position in shares of Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after purchasing an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Red Hat during the 2nd quarter worth approximately $117,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Red Hat during the 2nd quarter worth approximately $122,000. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
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