News coverage about Red Hat (NYSE:RHT) has trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Red Hat earned a media sentiment score of 0.02 on Accern’s scale. Accern also gave news stories about the open-source software company an impact score of 78 out of 100, meaning that recent press coverage is likely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern’s scoring:
- A Move That Shows Amazon Web Services Is Going Strong (finance.yahoo.com)
- A closer look at Red Hat Inc. (NYSE: RHT) – Argus Journal (argusjournal.com)
- Zacks: Analysts Anticipate Red Hat, Inc. (NYSE:RHT) to Announce $0.47 EPS (americanbankingnews.com)
- How Many Red Hat Inc (NYSE:RHT)’s Analysts Are Bearish? (latribunadecanarias.com)
- Igniting Curiosity, Investor Update on Red Hat, Inc. (NYSE:RHT) and Waste Connections, Inc. (NYSE:WCN) – FLBC News (flbcnews.com)
Shares of Red Hat (NYSE:RHT) opened at 98.61 on Wednesday. The company’s 50 day moving average price is $93.95 and its 200 day moving average price is $85.42. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 67.54 and a beta of 1.26. Red Hat has a one year low of $68.54 and a one year high of $100.80.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The firm had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts expect that Red Hat will post $2.68 earnings per share for the current fiscal year.
Several research firms have weighed in on RHT. Deutsche Bank AG increased their price target on shares of Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $96.00 price target (up previously from $94.00) on shares of Red Hat in a research report on Wednesday, May 10th. Mizuho reduced their price target on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Drexel Hamilton increased their price objective on shares of Red Hat to $110.00 in a research note on Tuesday, March 28th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $83.00 price objective (up previously from $70.00) on shares of Red Hat in a research note on Tuesday, March 28th. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and a consensus target price of $98.72.
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In other Red Hat news, EVP Michael Cunningham sold 8,000 shares of the stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $87.15, for a total value of $697,200.00. Following the transaction, the executive vice president now directly owns 25,905 shares of the company’s stock, valued at approximately $2,257,620.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William S. Kaiser sold 4,006 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $96.43, for a total transaction of $386,298.58. Following the completion of the transaction, the director now directly owns 91,808 shares in the company, valued at $8,853,045.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,805 shares of company stock worth $24,009,537. 0.66% of the stock is owned by insiders.
About Red Hat
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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