Research Analysts Offer Predictions for Red Hat Inc’s Q1 2020 Earnings (NYSE:RHT)

Red Hat Inc (NYSE:RHT) – Stock analysts at KeyCorp issued their Q1 2020 EPS estimates for shares of Red Hat in a research note issued to investors on Monday, March 25th, Zacks Investment Research reports. KeyCorp analyst A. Kurtz forecasts that the open-source software company will post earnings per share of $0.69 for the quarter. KeyCorp also issued estimates for Red Hat’s Q2 2020 earnings at $0.80 EPS, Q3 2020 earnings at $0.78 EPS and Q4 2020 earnings at $0.85 EPS.

Several other brokerages have also commented on RHT. ValuEngine lowered shares of Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price objective for the company in a report on Monday, December 31st. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $168.41.

RHT traded down $0.62 during trading on Thursday, hitting $181.94. 1,737,138 shares of the stock traded hands, compared to its average volume of 1,232,988. The stock has a market capitalization of $32.16 billion, a P/E ratio of 65.21, a PEG ratio of 3.99 and a beta of 0.54. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 0.14. Red Hat has a 12-month low of $115.31 and a 12-month high of $183.58.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, March 25th. The open-source software company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.15. The business had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $885.64 million. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS.

In related news, EVP Michael Cunningham sold 25,000 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $178.79, for a total value of $4,469,750.00. Following the completion of the transaction, the executive vice president now directly owns 25,071 shares in the company, valued at approximately $4,482,444.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Alpha Omega Wealth Management LLC purchased a new stake in shares of Red Hat during the 4th quarter valued at about $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Red Hat during the 4th quarter valued at about $27,000. Berman Capital Advisors LLC purchased a new stake in shares of Red Hat during the 4th quarter valued at about $27,000. Liberty Wealth Management LLC purchased a new stake in shares of Red Hat during the 4th quarter valued at about $30,000. Finally, Legacy Financial Advisors Inc. purchased a new stake in shares of Red Hat during the 4th quarter valued at about $33,000. Institutional investors own 89.25% of the company’s stock.

About Red Hat

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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