RH (NYSE:RH) Issues Earnings Results

RH (NYSE:RH) released its quarterly earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.13, Briefing.com reports. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The firm had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. During the same quarter last year, the firm posted $3.93 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. RH updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

RH Stock Performance

Shares of RH opened at $321.87 on Friday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 89.16, a PEG ratio of 1.08 and a beta of 2.42. RH has a fifty-two week low of $207.26 and a fifty-two week high of $354.86. The firm has a 50 day moving average price of $263.59 and a 200-day moving average price of $266.32.

Analyst Ratings Changes

RH has been the subject of a number of research reports. StockNews.com raised shares of RH to a “sell” rating in a research note on Friday, June 21st. BNP Paribas raised shares of RH to a “hold” rating in a research note on Friday, June 14th. TD Cowen boosted their price target on shares of RH from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday. The Goldman Sachs Group cut their price target on shares of RH from $264.00 to $226.00 and set a “sell” rating for the company in a research note on Monday, June 17th. Finally, Robert W. Baird boosted their price target on shares of RH from $275.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RH currently has an average rating of “Hold” and a consensus target price of $313.08.

Insider Transactions at RH

In other news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was bought at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the acquisition, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RH. M&T Bank Corp bought a new stake in RH during the 4th quarter valued at $213,000. Charles Schwab Investment Management Inc. raised its holdings in RH by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 135,789 shares of the company’s stock valued at $39,580,000 after buying an additional 7,334 shares during the last quarter. Jump Financial LLC raised its holdings in RH by 169.8% during the 4th quarter. Jump Financial LLC now owns 6,279 shares of the company’s stock valued at $1,830,000 after buying an additional 3,952 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RH by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,035 shares of the company’s stock valued at $77,260,000 after buying an additional 15,312 shares during the last quarter. Finally, Westpac Banking Corp raised its holdings in RH by 3.2% during the 4th quarter. Westpac Banking Corp now owns 4,146 shares of the company’s stock valued at $1,208,000 after buying an additional 130 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors.

RH Company Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.