Red Hat (NYSE:RHT) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Red Hat (NYSE:RHT) issued its quarterly earnings data on Thursday. The open-source software company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14, RTT News reports. The company had revenue of $934.10 million during the quarter, compared to analyst estimates of $931.58 million. Red Hat had a return on equity of 38.68% and a net margin of 13.26%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share.

Shares of NYSE RHT opened at $187.55 on Friday. The firm has a market capitalization of $33.34 billion, a PE ratio of 61.90, a P/E/G ratio of 4.19 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.27 and a current ratio of 1.27. Red Hat has a 12-month low of $115.31 and a 12-month high of $189.14.

Several research analysts recently weighed in on the company. ValuEngine lowered Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. William Blair lowered Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 price objective for the company. in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $178.57.

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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Earnings History for Red Hat (NYSE:RHT)

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