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.
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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