William Blair Weighs in on Red Hat Inc’s FY2019 Earnings (RHT)

Red Hat Inc (NYSE:RHT) – William Blair issued their FY2019 EPS estimates for shares of Red Hat in a research note issued on Wednesday, Zacks Investment Research reports. William Blair analyst J. Ader forecasts that the open-source software company will post earnings of $2.21 per share for the year. William Blair has a “Outperform” rating on the stock.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, March 27th. The open-source software company reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The company earned $628.80 million during the quarter, compared to analyst estimates of $618.64 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “William Blair Weighs in on Red Hat Inc’s FY2019 Earnings (RHT)” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://sportsperspectives.com/2017/04/21/red-hat-inc-rht-to-post-fy2019-earnings-of-2-21-per-share-william-blair-forecasts-updated-updated.html.

Earnings History and Estimates for Red Hat (NYSE:RHT)

RHT has been the subject of several other reports. Vetr downgraded shares of Red Hat from a “strong-buy” rating to a “buy” rating and set a $80.00 price objective for the company. in a research note on Wednesday, January 11th. Zacks Investment Research raised shares of Red Hat from a “sell” rating to a “hold” rating in a report on Tuesday, December 27th. Drexel Hamilton reissued a “buy” rating and set a $105.00 target price on shares of Red Hat in a report on Friday, March 24th. Cowen and Company raised their target price on shares of Red Hat from $88.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, March 28th. Finally, Stifel Nicolaus cut shares of Red Hat from a “buy” rating to a “hold” rating and reduced their target price for the stock from $87.00 to $70.00 in a report on Thursday, December 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.60.

Shares of Red Hat (NYSE:RHT) traded down 0.46% during trading on Thursday, reaching $87.02. 941,721 shares of the company were exchanged. The firm has a market capitalization of $15.47 billion, a PE ratio of 62.60 and a beta of 1.44. Red Hat has a 1-year low of $68.54 and a 1-year high of $88.05. The company’s 50-day moving average is $84.24 and its 200 day moving average is $79.02.

In other Red Hat news, EVP Michael Cunningham sold 9,000 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $86.39, for a total value of $777,510.00. Following the transaction, the executive vice president now directly owns 26,651 shares in the company, valued at approximately $2,302,379.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 1,440 shares of the business’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $85.81, for a total transaction of $123,566.40. Following the completion of the transaction, the executive vice president now owns 36,662 shares in the company, valued at $3,145,966.22. The disclosure for this sale can be found here. Insiders have sold 69,630 shares of company stock worth $5,992,372 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of RHT. Advisor Group Inc. raised its position in Red Hat by 0.4% in the third quarter. Advisor Group Inc. now owns 13,676 shares of the open-source software company’s stock valued at $1,103,000 after buying an additional 56 shares during the last quarter. Valicenti Advisory Services Inc. raised its position in Red Hat by 0.3% in the third quarter. Valicenti Advisory Services Inc. now owns 27,600 shares of the open-source software company’s stock valued at $2,231,000 after buying an additional 75 shares during the last quarter. F&V Capital Management LLC raised its position in Red Hat by 2.7% in the first quarter. F&V Capital Management LLC now owns 3,445 shares of the open-source software company’s stock valued at $298,000 after buying an additional 90 shares during the last quarter. CENTRAL TRUST Co raised its position in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock valued at $159,000 after buying an additional 139 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Red Hat by 0.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 20,230 shares of the open-source software company’s stock valued at $1,635,000 after buying an additional 150 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Red Hat Company Profile

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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