Red Hat Inc (NYSE:RHT) – Investment analysts at Jefferies Group raised their Q4 2018 EPS estimates for Red Hat in a research note issued on Wednesday. Jefferies Group analyst J. Difucci now forecasts that the open-source software company will earn $0.60 per share for the quarter, up from their previous forecast of $0.54. Jefferies Group has a “Hold” rating and a $119.00 price target on the stock.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year.
Shares of Red Hat (NYSE RHT) traded down $0.21 during trading hours on Monday, hitting $122.92. The stock had a trading volume of 1,396,460 shares, compared to its average volume of 1,685,870. Red Hat has a one year low of $68.95 and a one year high of $130.93. The firm has a market cap of $21,952.60, a P/E ratio of 67.17, a PEG ratio of 3.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30.
Hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares during the period. Clear Perspective Advisors LLC bought a new stake in Red Hat during the second quarter valued at about $112,000. Sun Life Financial INC boosted its holdings in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after acquiring an additional 1,187 shares during the period. BB&T Investment Services Inc. bought a new stake in shares of Red Hat in the second quarter valued at about $135,000. Finally, Zions Bancorporation bought a new stake in shares of Red Hat in the third quarter valued at about $164,000. Institutional investors own 93.57% of the company’s stock.
In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the transaction, the insider now directly owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the transaction, the chief executive officer now directly owns 392,979 shares in the company, valued at $43,679,615.85. The disclosure for this sale can be found here. Insiders have sold 34,172 shares of company stock worth $3,926,377 over the last three months. Company insiders own 0.66% of the company’s stock.
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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.
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