RH (NYSE:RH) Issues Quarterly Earnings Results

RH (NYSE:RH) issued its quarterly earnings results on Wednesday. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.99), Briefing.com reports. The business had revenue of $738.26 million during the quarter, compared to analyst estimates of $777.50 million. RH had a return on equity of 81.84% and a net margin of 7.28%. RH’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 EPS. RH updated its FY 2024 guidance to EPS.

RH Stock Performance

NYSE RH opened at $297.10 on Thursday. RH has a fifty-two week low of $207.26 and a fifty-two week high of $406.38. The stock’s fifty day moving average is $271.63 and its two-hundred day moving average is $268.34. The firm has a market capitalization of $5.47 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.85 and a beta of 2.43.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RH shares. Barclays raised their price target on RH from $256.00 to $293.00 and gave the stock an “equal weight” rating in a report on Friday, December 8th. Morgan Stanley reduced their price target on RH from $340.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, December 8th. JPMorgan Chase & Co. lifted their price target on RH from $329.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush boosted their price objective on RH from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America cut their price objective on RH from $345.00 to $309.00 and set a “buy” rating for the company in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, RH currently has an average rating of “Hold” and a consensus price target of $320.29.

Insider Activity

In other news, insider Edward T. Lee sold 2,624 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $264.50, for a total value of $694,048.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On RH

Several large investors have recently modified their holdings of RH. Raymond James & Associates lifted its stake in shares of RH by 81.7% in the 1st quarter. Raymond James & Associates now owns 11,395 shares of the company’s stock valued at $3,716,000 after purchasing an additional 5,124 shares during the last quarter. US Bancorp DE boosted its holdings in RH by 13.2% during the 1st quarter. US Bancorp DE now owns 650 shares of the company’s stock valued at $213,000 after acquiring an additional 76 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in RH by 2.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,609 shares of the company’s stock valued at $851,000 after acquiring an additional 56 shares during the period. D.A. Davidson & CO. purchased a new position in RH during the 1st quarter valued at about $236,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in RH by 10.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,373 shares of the company’s stock valued at $2,078,000 after acquiring an additional 622 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.

About RH

RH, together with its subsidiaries, operates as a retailer in the home furnishings and operates under RH Galleries and RH brand names in the District of Columbia and Canada, as well as Waterworks showrooms throughout the United States and the United Kingdom. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings.