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Red Hat earnings estimates report september 24 2012

Red Hat earnings estimates report september 24 2012, Red Hat eps forecast, : Red Hat is a leading developer and provider of open source software and services, including the Red Hat Linux operating system. Red Hat trades an average of two million shares per day with a market cap of $11 billion.  Despite an expected dip in profit, analysts are generally optimistic about Red Hat (RHT) as it prepares to reports its second quarter earnings on Monday, September 24, 2012.

52-Week Range: $37.85 - $62.75
Book Value: $7.34
Price To Book: 7.99

Red Hat is forecast to report slightly lower second-quarter earnings after the market closes on Monday. The consensus estimate is currently 21 cents a share compared with 22 cents during the equivalent quarter last year. Technically, the difference is 4.5%, but I don't consider percentage changes meaningful when the gross amount is 1 cent.

Analysts are expecting Red Hat to come in with earnings of 21 cents per share, 4.5% less than a year ago when it reported earnings of 22 cents per share.

For the fiscal year, analysts are expecting earnings of 87 cents per share. Revenue is projected to be $322.1 million for the quarter, 14.5% above the year-earlier total of $281.3 million. For the year, revenue is projected to roll in at $1.33 billion.

Revenue has grown by double digits year-over-year for the last four quarters. Over that period, revenue has grown by an average of 22.8%. The biggest boost came in the second quarter of the last fiscal year when revenue increased 28% year-over-year.

The company has seen net income rise in three straight quarters. The 15.4% year-over-year growth in net income in the most recent quarter came after the 7.3% profit growth in the fourth quarter of the last fiscal year and the 47% rise in the third quarter of the last fiscal year.

The majority of analysts (70.8%) rate Red Hat as a buy. This compares favorably to the analyst ratings of its nearest nine competitors, which average 60.7% buys. Analyst sentiment has improved recently, as the number of buy ratings has risen slightly over the past three months. Consequently, over the past quarter the stock price has increased from $53 on June 21, 2012 to $57.21.

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