Who is set to report their earnings today and what are the analysts predicting? Here is our roundup of some of today’s anticipated announcements.
Red Hat Inc (RHT)
The world’s leading enterprise open source solutions provider, Red Hat Inc is expected to reports its earnings today after market close. The period covered in the report will end May 2019 and according to Zacks, the EPS consensus forecast for the quarter in question is $0.62, a $0.09 increase on the same quarter in 2018.
With recommendations edging towards buy at the time of writing, the company is expected to enjoy further success as IBM moves to acquire Red Hat for $34 billion. The deal is scheduled for completion by the latter half of 2019 and shareholders are set to earn $190 per share, demonstrating a 62.8% premium increase in price since October 2018.
Most of the shareholders approved the upcoming transaction at a meeting back in January, and as a result the company’s stock has offered a return of 6.2% year to date. The future is looking bright for the company, not just due to the IBM takeover, but also because of the strong adoption of its emerging technologies that include OpenStack, OpenShift, and Ansible. The firm claim that some of its clientbase include Dell, Google cloud, Intel, Hortonworks, Microsoft Azure, Amazon Web Services, and NVIDIA amongst others
Darden Restaurants (DRI)
The parent company of Olive Garden, LongHorn Steakhouse, and Cheddar’s Scratch Kitchen, Darden Restaurants is also due to report its earnings today.
Analysts have speculated that the company’s EPS could be near the $1.72 mark on overall sales of $2.4billion. This analysis estimate represents and impressive 23.74% increase on its EPS figure as well as revenue being up 4.97% from the same time last year.
B.Bittner, an Oppenheimer analyst has gone one step further and predicting earnings of $1.98 per share for the quarter, higher than others, but still less than their initial prediction of $2.00. Citigroup also gave the company a ‘buy’ rating as of yesterday, whereas Zacks lowered their rating from ‘buy’ to ‘hold’.
When it comes to shares, they were trading at $117.93 as of yesterday. Over the last year, share prices saw an increase of 25.03%. Such positive returns suggests satisfaction among shareholders as we anticipate this quarters earnings release.
The Kroger Company (KR)
Operating over 3000 locations and with almost half a million staff in the US, retailers The Kroger Company are set to report on earnings this morning.
Some sources have estimated that they expect revenue to fall to $37.3 billion and an adjusted net income of $589.4 million. This would represent earnings of 71 cents per share. During the same time frame last year, the company reported earnings of 73 cents per share and a net income of just over $846 million.
The company’s stock has fallen 5.3% since the last earnings report back on 7 March this year.