RH (NYSE:RH) Posts Earnings Results, Beats Estimates By $0.13 EPS

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

RH Price Performance

RH opened at $321.87 on Friday. The firm has a market capitalization of $5.94 billion, a PE ratio of 89.16, a price-to-earnings-growth ratio of 1.08 and a beta of 2.42. The business’s 50-day moving average is $263.59 and its two-hundred day moving average is $266.32. RH has a 1 year low of $207.26 and a 1 year high of $354.86.

Insider Buying and Selling

In other news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction on Tuesday, June 25th. The stock was bought at an average price 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 is available at the SEC website. 28.10% of the stock is owned by company insiders.

Institutional Trading of RH

Hedge funds have recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in RH during the fourth quarter valued at approximately $25,000. Quest Partners LLC acquired a new position in RH in the fourth quarter valued at about $37,000. Hollencrest Capital Management acquired a new position in RH in the first quarter valued at about $47,000. Ridgewood Investments LLC bought a new position in shares of RH in the second quarter worth about $62,000. Finally, Tradition Wealth Management LLC raised its stake in shares of RH by 14.8% during the fourth quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock worth $102,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Wall Street Analyst Weigh In

RH has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of RH from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen raised their target price on shares of RH from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital decreased their price objective on shares of RH from $350.00 to $230.00 and set a “hold” rating for the company in a research note on Monday, June 17th. StockNews.com upgraded shares of RH to a “sell” rating in a research report on Friday, June 21st. Finally, Citigroup raised their price target on shares of RH from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $313.08.

About RH

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.