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

RH (NYSE:RH) posted its 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. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The company had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. During the same quarter in the previous year, the firm earned $3.93 earnings per share. The firm’s quarterly 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 Price Performance

NYSE:RH traded up $65.38 during trading hours on Friday, reaching $321.87. The company had a trading volume of 4,553,986 shares, compared to its average volume of 735,873. RH has a 1-year low of $207.26 and a 1-year high of $354.86. The business’s 50 day moving average price is $263.59 and its 200-day moving average price is $266.32. The firm has a market cap 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.

Analyst Ratings Changes

A number of research firms recently commented on RH. Robert W. Baird increased their target price on shares of RH from $275.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday. Wedbush increased their price objective on RH from $250.00 to $310.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen boosted their target price on RH from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday. Loop Capital dropped their price target on RH from $350.00 to $230.00 and set a “hold” rating on the stock in a research note on Monday, June 17th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $290.00 price objective on shares of RH in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, RH currently has a consensus rating of “Hold” and a consensus target price of $313.08.

Insider Activity

In other RH news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction on Tuesday, June 25th. The shares were bought at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the transaction, the chief executive officer now owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

A number of large investors have recently added to or reduced their stakes in RH. Janus Henderson Group PLC boosted its stake in shares of RH by 0.4% in the first quarter. Janus Henderson Group PLC now owns 8,580 shares of the company’s stock worth $2,986,000 after acquiring an additional 38 shares during the last quarter. Insight Advisors LLC PA grew its holdings in shares of RH by 2.8% during the first quarter. Insight Advisors LLC PA now owns 1,447 shares of the company’s stock worth $504,000 after buying an additional 39 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of RH by 1.7% during the second quarter. Pacer Advisors Inc. now owns 2,340 shares of the company’s stock worth $572,000 after buying an additional 40 shares in the last quarter. Tradition Wealth Management LLC raised its position in shares of RH by 14.8% in the fourth quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock valued at $102,000 after buying an additional 45 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of RH by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 13,378 shares of the company’s stock worth $4,659,000 after buying an additional 47 shares in 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.