Red Hat (NYSE:RHT) is scheduled to announce its third-quarter financial results Monday afternoon after markets close.
The company is popular among analysts, with 23 listing it as “overweight,” “buy” or “hold” and two advising stockholders to sell.
The stock closed at $48 a share on Friday, up 0.76 percent, or 36 cents a share. It’s 52-week high was $53.42. Analysts said they expect to see earnings per share of 26 cents for the third quarter, down from the second quarter’s unadjusted 29 cents.
Earlier this month, Trip Chowdhry of Global Equities Research wrote that the Hatters are beating Microsoft and other rivals in battles for “cloud computing” projects, winning five out of eight new efforts.
CEO Jim Whitehurst said in September that red Hat expected to top $1 billion in revenues for the first time.
For the second quarter, the company reported $220 million in revenues, higher than analysts forecast, and a 19-cent per share profit. That was one cent higher than expected.
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