Market Overview

Red Hat Expected To Post More Than 20% YoY Earnings Growth

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Red Hat Inc (NYSE: RHT) will report its first quarter financial results on Thursday after the market closes. According to Estimize, expectations point towards a 20.5 to 23.5 percent year-over-year earnings growth rate.

In the first quarter last year, the company registered earnings of $0.34 per share on revenue of $423.8 million. For the current quarter, the company guided earnings of $0.41 per share on revenue of $471.5 million.

The Street is modeling consensus earnings in line with guidance, on slightly higher revenue of $472.24 million. The crowd, however, is more bullish, and anticipates earnings of $0.42 per share on revenue of $475.45 million.

It is also interesting to observe how sentiment has changed over time. The Street’s consensus experienced an increase in April, before settling at the $0.41 level. For its part, the crowd’s estimates went through some ups and downs, but ultimately saw an upward revision on Tuesday.

Analyst Ratings

A bunch of analysts have weighed in on Red Hat this year. Most recently, Raymond James analysts reiterated an Outperform rating and an $84 price target. Barclays rates the stock an Overweight, with the same price target as its peer Raymond James.

Other firms that recently graded the stock are:

  • Cantor Fitzgerald, Buy rating, $85 price target
  • Citigroup, Neutral rating, $73 price target
  • Credit Suisse, Outperform rating, $78 price target
  • Deutsche Bank, Hold rating,$70 price target
  • Jefferies, Hold rating, $66 price target
  • JMP Securities, Market Outperform rating, $79 price target
  • JP Morgan, Overweight rating, $80 price target

Latest Ratings for RHT

DateFirmActionFromTo
Nov 2018KeyBancDowngradesOverweightSector Weight
Oct 2018CitigroupDowngradesBuyNeutral
Oct 2018NomuraDowngradesBuyNeutral

View More Analyst Ratings for RHT
View the Latest Analyst Ratings

Posted-In: Barclays Cantor Fitzgerald CitigroupPreviews Crowdsourcing Analyst Ratings Trading Ideas General

 

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StockFirmActionPT
LXRXGabelli & Co.Upgrades0.0
FTDRWells FargoInitiates Coverage On0.0
PLANMonness Crespi HardtInitiates Coverage On50.0
VSMArgusDowngrades0.0
TSLARBC CapitalReiterates210.0
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