RH (NYSE:RH) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

RH (NYSE:RH) announced its quarterly earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13, Briefing.com reports. The firm had revenue of $829.66 million during 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%. RH’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.93 earnings per share. RH updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

RH Trading Up 25.5 %

Shares of RH opened at $321.87 on Friday. The stock’s 50 day moving average is $263.59 and its two-hundred day moving average is $266.32. RH has a twelve month low of $207.26 and a twelve month high of $354.86. The firm has a market capitalization of $5.94 billion, a PE ratio of 89.16, a P/E/G ratio of 1.08 and a beta of 2.42.

Analysts Set New Price Targets

A number of analysts recently issued reports on RH shares. Wedbush upped their target price on RH from $250.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday. BNP Paribas raised RH to a “hold” rating in a report on Friday, June 14th. Loop Capital reduced their price target on shares of RH from $350.00 to $230.00 and set a “hold” rating for the company in a research report on Monday, June 17th. Wells Fargo & Company raised their price objective on shares of RH from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus assumed coverage on shares of RH in a report on Tuesday, July 9th. They issued a “buy” rating and a $315.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $313.08.

Insider Transactions at RH

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anomaly Capital Management LP grew its holdings in RH by 503.6% in the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares during the last quarter. Norges Bank acquired a new stake in RH in the 4th quarter valued at about $38,736,000. Granahan Investment Management LLC purchased a new position in RH during the 4th quarter valued at about $24,915,000. Marshall Wace LLP increased its holdings in RH by 58.6% during the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after acquiring an additional 64,423 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after acquiring an additional 62,198 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.