BMO Capital Markets Analysts Begin Coverage on Red Hat (RHT)
Several other analysts have also recently commented on the stock. Analysts at MKM Partners initiated coverage on shares of Red Hat in a research note to investors on Tuesday, April 10th. They set a “neutral” rating on the stock. Separately, analysts at Wells Fargo & Co. (NYSE: WFC) reiterated an “outperform” rating on shares of Red Hat in a research note to investors on Thursday, March 29th. Finally, analysts at Drexel Hamilton reiterated a “buy” rating on shares of Red Hat in a research note to investors on Thursday, March 29th.
Red Hat traded down 3.01% on Thursday, hitting $58.97. Red Hat has a 1-year low of $31.77 and a 1-year high of $62.75. The company has a market cap of $11.373 billion and a price-to-earnings ratio of 81.07.
The company last announced its quarterly results on Wednesday, March 28th. It reported $0.29 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.27 EPS by $0.02. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts expect that Red Hat will post $0.29 EPS next quarter.
Red Hat, Inc. (Red Hat) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.