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Published: Sun, December 25, 2016
Economy | By Melissa Porter

The Red Hat Inc. (RHT) Issues Q4 Earnings Guidance

The Red Hat Inc. (RHT) Issues Q4 Earnings Guidance

In Red Hat, Inc.

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of Red Hat, Inc. The number of times the company has met analysts' estimates is 0. The stock's Dividend stands at 0 and Dividend Yield stands at 0 Percent. Jefferies Group now has a hold rating on the stock.

Red Hat gapped open sharply lower Thursday and slipped further in early trade.

12/22/2016 - Red Hat, Inc. was downgraded to "hold" by analysts at Stifel Nicolaus. The shares were sold at an average price of $80.35, for a total value of $1,004,375.00. (NASDAQ:SIRI) stock. Analyst's mean target price for SIRI is $4.89 while analysts mean recommendation is 2.20.

At present the return on equity (ROE) stands at 16.40% and the debt to equity stands at 0.56. Red Hat, Inc. P/E (price to earnings) ratio is 57.69 and Forward P/E ratio of 26.23. Zacks Investment Research cut shares of Red Hat from a "buy" rating to a "hold" rating in a report on Tuesday, November 15th. The company's 50-day moving average is $78.00 and its 200 day moving average is $76.10.

Historical Quarterly Earnings: Last quarter, Red Hat, Inc. generated almost $615.26M in sales and net income of $0.61/share. Red Hat, Inc. represents Distance from 200-Day simple Moving Average as -8.98 Percent.

VMware, Inc. (NYSE:VMW) [Trend Analysis] tries to capture market sentiments, shares slightly up 0.18% to $79.68.

The Red Hat Inc. (RHT) Issues Q4 Earnings Guidance
The Red Hat Inc. (RHT) Issues Q4 Earnings Guidance

Red Hat, Inc.'s P/E ratio now stands at 57.69, while the P/S ratio is at 5.55 and the potential growth rate of earnings per share this year is at 12.50%. Hedge funds and other institutional investors own 94.30% of the company's stock.

In other news, Director General Henry Hugh Shelton sold 15,000 shares of the business's stock in a transaction on Friday, September 30th.

On 10/3/2016 Michael Cunningham, EVP, sold 15,000 with an average share price of $80.42 per share and the total transaction amounting to $1,206,300.00. (NYSE:RHT), according to U.S. Securities and Exchange Commission (SEC) filings. Geode Cap Ltd Liability Company, a Massachusetts-based fund reported 1.51 million shares.

Red Hat (NYSE:RHT) opened at 68.71 on Thursday. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company's stock valued at $246,000 after buying an additional 331 shares during the period. Valicenti Advisory Services Inc. increased its position in Red Hat by 0.3% in the third quarter. During the third quarter of fiscal year 2017, GAAP net income and earnings per diluted share benefited by $6 million and approximately $0.03, respectively, from the adoption of Accounting Standards Update 2016-09 ("ASU 2016-09") in the first quarter of fiscal year 2017. The firm earned $615 million during the quarter, compared to analysts' expectations of $622.25 million. The New York-based Qs Investors Limited Liability Co has invested 0% in Red Hat Inc (NYSE:RHT).

EPS in next five year years is expected to touch 16.78% while EPS growth in past 5 year was 14.30% along with sales growth of 17.70% in the last five years. Finally, Bank of Montreal Can purchased a new stake in Red Hat during the second quarter worth $41,574,000.

COPYRIGHT VIOLATION WARNING: This report was originally posted by Sports Perspectives and is owned by of Sports Perspectives.

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. The Firm operates through three geographical divisions: the Americas (the United States, Canada and Latin America); Europe, Middle East and Africa (EMEA), and Asia Pacific.

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