Headlines about Red Hat (NYSE:RHT) have been trending somewhat negative this week, according to Accern Sentiment. The research group rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Red Hat earned a news sentiment score of -0.25 on Accern’s scale. Accern also gave news headlines about the open-source software company an impact score of 86 out of 100, meaning that recent press coverage is very likely to have an effect on the company’s share price in the next several days.
Here are some of the headlines that may have impacted Accern’s analysis:
- Red Hat Inc Rises 1.86% on Heavy Volume: Watch For Potential Pullback (mysmartrend.com)
- Red Hat Now a Strong Buy on Impressive Q1 & Positive Views (finance.yahoo.com)
- Brokers Issue Forecasts for Red Hat, Inc.’s Q4 2018 Earnings (RHT) (ibusinesslines.com)
- Teachers Advisors LLC Has $44.66 Million Stake in Red Hat, Inc. (RHT) (healthcaremenu.net)
- Edited Transcript of RHT earnings conference call or presentation 20-Jun-17 9:00pm GMT (finance.yahoo.com)
Shares of Red Hat (RHT) opened at 96.55 on Monday. The firm’s 50 day moving average is $90.80 and its 200-day moving average is $83.41. The company has a market cap of $17.13 billion, a PE ratio of 66.13 and a beta of 1.26. Red Hat has a 1-year low of $68.54 and a 1-year high of $100.80.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. Equities analysts expect that Red Hat will post $2.68 earnings per share for the current year.
RHT has been the subject of several recent analyst reports. Barclays PLC reiterated an “overweight” rating and issued a $96.00 target price (up from $92.00) on shares of Red Hat in a research note on Tuesday, March 28th. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 target price for the company in a research note on Tuesday, May 2nd. Mizuho raised their target price on shares of Red Hat from $80.00 to $94.00 and gave the company a “positive” rating in a research note on Monday, March 20th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $96.00 target price (up from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Red Hat in a research note on Wednesday, May 24th. They issued a “market perform” rating and a $102.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Red Hat presently has an average rating of “Buy” and an average target price of $99.02.
In other news, EVP Delisa Alexander sold 1,440 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $85.81, for a total transaction of $123,566.40. Following the sale, the executive vice president now owns 36,662 shares in the company, valued at approximately $3,145,966.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Whitehurst sold 47,608 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $88.11, for a total transaction of $4,194,740.88. Following the sale, the chief executive officer now owns 397,380 shares in the company, valued at approximately $35,013,151.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,031 shares of company stock worth $23,099,293. Corporate insiders own 0.66% 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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