Red Hat (RHT) Receiving Somewhat Positive Press Coverage, Analysis Shows
Media stories about Red Hat (NYSE:RHT) have trended somewhat positive recently, Accern Sentiment reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Red Hat earned a news impact score of 0.19 on Accern’s scale. Accern also gave headlines about the open-source software company an impact score of 45.8752041487433 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the headlines that may have effected Accern’s rankings:
- Investor’s Alert (Beta Factor in Focus) – Red Hat, Inc., (NYSE: RHT) – Stock Watch (stocksnewstimes.com)
- Red Hat, Inc. (RHT) Receives Average Rating of “Buy” from Analysts (americanbankingnews.com)
- Updated Versions of QualNet and EXata Modeling and Simulation Products Released (prweb.com)
- Technical Reports on Application Software Equities — Oracle, CDK Global, Workday, and Red Hat (bizjournals.com)
- Technical Reports on Application Software Equities — Oracle, CDK Global, Workday, and Red Hat – PR Newswire (press release) (prnewswire.com)
Shares of Red Hat (NYSE RHT) traded down $1.92 on Thursday, hitting $126.59. 832,400 shares of the company’s stock were exchanged, compared to its average volume of 1,659,061. Red Hat has a 1-year low of $68.54 and a 1-year high of $129.23. The firm has a market capitalization of $22,070.00, a PE ratio of 70.61, a PEG ratio of 4.08 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the business earned $0.55 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. equities analysts forecast that Red Hat will post 2 earnings per share for the current year.
A number of brokerages have commented on RHT. Bank of America Corporation reaffirmed an “underperform” rating and set a $115.00 target price on shares of Red Hat in a research note on Tuesday, October 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $130.00 target price on shares of Red Hat in a research note on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $120.00 target price on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $124.00 target price (up from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $125.00 target price (up from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat presently has an average rating of “Buy” and an average price target of $110.93.
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In other Red Hat news, Director Eugene Beukman sold 100,000 shares of Red Hat stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $0.73, for a total transaction of $73,000.00. Also, EVP Delisa Alexander sold 1,073 shares of Red Hat stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now owns 38,150 shares of the company’s stock, valued at $4,591,734. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,172 shares of company stock valued at $4,072,377. Company insiders own 0.66% of the company’s stock.
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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