Red Hat Company Profile (NYSE:RHT)

Red Hat trades on the New York Stock Exchange (NYSE) under the ticker symbol "RHT."

Red Hat, Inc. (NYSE:RHT) released its quarterly earnings results on Tuesday, June, 20th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company's quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. View Red Hat's Earnings History.

Red Hat is scheduled to release their next quarterly earnings announcement on Tuesday, September, 19th 2017. View Earnings Estimates for Red Hat.

Red Hat issued an update on its FY18 earnings guidance on Tuesday, June, 20th. The company provided EPS guidance of $2.66-$2.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.63. The company issued revenue guidance of $2.785-$2.825 billion, compared to the consensus revenue estimate of $2.74 billion.Red Hat also updated its Q2 guidance to $0.67 EPS.

29 brokerages have issued 1 year target prices for Red Hat's stock. Their forecasts range from $83.00 to $127.00. On average, they expect Red Hat's stock price to reach $99.38 in the next twelve months. View Analyst Ratings for Red Hat.

Here are some recent quotes from research analysts about Red Hat stock:

• 1. According to Zacks Investment Research, "Red Hat reported strong first-quarter fiscal 2018 results, beating the Zacks Consensus Estimates on both line. The company is benefiting from strong deal win, improving recurring revenues and cross-selling of cloud-based technology. Based on the strong first-quarter results, management raised fiscal 2018 guidance. We believe Amazon Web Services OpenShift partnership extension reflects strength in Red Hat’s solutions and platform. The acquisition of Codenvy, which will boost its position in the hybrid cloud computing market. Further, it has a strong customer as well as partner base that include the likes of IBM, Intel, Dell Technologies, Google cloud platform and Microsoft Azure. We note that the company has outperformed the S&P 500 index on a year-to-date basis. However, intensifying competition, growing U.S. government exposure and foreign exchange volatility are some of the headwinds, in our view." (6/23/2017)
• 2. Drexel Hamilton analysts commented, "Last night, Red Hat reported strong 4Q:FY17 results and a better than expected 1Q:FY18 revenue outlook, combined with a solid initial guidance for FY:18. As such, we are increasing our estimates and raising our 12-month price target to $110.00 from $105.00." (3/28/2017)
• 3. Barclays PLC analysts commented, "A Strong Finish to the Year: After these results, we think Red Hat shares should be able to move higher from current levels. The company delivered on all the main aspects that investors are focused on: healthy billings growth, reacceleration of emerging product growth, strong backlog growth, and the return of leverage in the model. We think that investors will want to pay a higher multiple for a story that is finally coming together, hence, we maintain our Overweight rating." (3/28/2017)
• 4. Jefferies Group LLC analysts commented, "RHT reported very strong F4Q results that are solid even when taking into account the performance over the last two quarters, including the F3Q quarter that was very weak. Guidance was also better than consensus estimates, but implies only single digit billings growth in the first half, low teens for the year, and no new business growth by our calculations. Margins continue to be flat, which we expect to persist." (3/28/2017)
• 5. William Blair analysts commented, " Red Hat turned in a strong fiscal fourth quarter, topping revenue consensus by $10 million and meeting the Street estimate on non-GAAP EPS (reported EPS would have been $0.02 higher if not for a higher-than-expected tax rate). The much-scrutinized billings metric accelerated sharply to 29% year-over-year growth versus guidance of midteens growth and compared with 9% and 19% growth in the previous two quarters, respectively. Also noteworthy was rolling-12-month billings growth of 19% (in constant currency), the highest level in five quarters." (3/28/2017)

Some companies that are related to Red Hat include Citrix Systems (CTXS), Synopsys (SNPS), Cadence Design Systems (CDNS), Splunk (SPLK), Atlassian Corporation PLC (TEAM), SS&C Technologies Holdings (SSNC), The Ultimate Software Group (ULTI), Tyler Technologies (TYL), National Instruments Corporation (NATI), Micro Focus International plc (MCRO), Nuance Communications (NUAN), Nice Systems (NICE), Blackbaud (BLKB), Solera Holdings (SLH), Playtech PLC (PTEC), FireEye (FEYE), CommVault Systems (CVLT) and Paylocity Holding Corporation (PCTY).

Red Hat's management team includes the folowing people:

• Henry Hugh Shelton USA, Independent Chairman of the Board
• James M. Whitehurst, President, Chief Executive Officer, Director
• Eric Ryan Shander, Chief Financial Officer, Executive Vice President
• Michael R. Cunningham, Executive Vice President, General Counsel
• Arun Oberoi, Executive Vice President - Global Sales and Services
• DeLisa K. Alexander J.D., Executive Vice President, Chief People Officer
• Paul J. Cormier, Executive Vice President, President - Products and Technologies
• Sohaib Abbasi, Independent Director
• W. Steve Albrecht, Independent Director
• Charlene T. Begley, Independent Director

Red Hat's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Russell Investments Group Ltd. (0.48%), Bank of Montreal Can (0.32%), Chevy Chase Trust Holdings Inc. (0.16%), Strs Ohio (0.15%), Kornitzer Capital Management Inc. KS (0.15%) and National Pension Service (0.10%). Company insiders that own Red Hat stock include Arun Oberoi, Delisa Alexander, Eric Ryan Shander, General Henry Hugh Shelton, James M Whitehurst, Michael Cunningham, Paul J Cormier and William S Kaiser. View Institutional Ownership Trends for Red Hat.

Red Hat's stock was sold by a variety of institutional investors in the last quarter, including Strs Ohio, Russell Investments Group Ltd., DnB Asset Management AS, Valicenti Advisory Services Inc., Chevy Chase Trust Holdings Inc., APG Asset Management N.V., Municipal Employees Retirement System of Michigan and Exxonmobil Investment Management Inc. TX. Company insiders that have sold Red Hat stock in the last year include Arun Oberoi, Delisa Alexander, Eric Ryan Shander, General Henry Hugh Shelton, James M Whitehurst, Michael Cunningham, Paul J Cormier and William S Kaiser. View Insider Buying and Selling for Red Hat.

Red Hat's stock was purchased by a variety of institutional investors in the last quarter, including Bank of Montreal Can, ING Groep NV, Acadian Asset Management LLC, Mn Services Vermogensbeheer B.V., National Pension Service, Oakbrook Investments LLC, Hellman Jordan Management Co. Inc. MA and BB&T Corp. View Insider Buying and Selling for Red Hat.

Shares of Red Hat can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Red Hat stock can currently be purchased for approximately $98.92.