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

RH (NYSE:RH – Get Rating) issued its quarterly earnings results on Thursday. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.13, Briefing.com reports. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.37 million. RH had a return on equity of 55.97% and a net margin of 14.72%. RH’s revenue was down 22.8% on a year-over-year basis. During the same period in the previous year, the firm posted $7.78 EPS.

RH Stock Down 6.7 %

Shares of RH stock traded down $17.04 on Friday, reaching $237.59. 420,756 shares of the company were exchanged, compared to its average volume of 801,601. RH has a one year low of $207.37 and a one year high of $351.53. The company has a current ratio of 2.84, a quick ratio of 1.93 and a debt-to-equity ratio of 3.97. The company has a 50-day moving average of $249.20 and a 200 day moving average of $273.86. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.32 and a beta of 2.08.

Insider Transactions at RH

In other RH news, Director Hilary K. Krane sold 137 shares of RH stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $306.54, for a total value of $41,995.98. Following the transaction, the director now directly owns 6,115 shares of the company’s stock, valued at approximately $1,874,492.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.90% of the company’s stock.

Institutional Trading of RH

Several hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of RH by 145.6% in the fourth quarter. Morgan Stanley now owns 594,574 shares of the company’s stock worth $158,864,000 after buying an additional 352,456 shares during the last quarter. Steadfast Capital Management LP raised its position in RH by 239.4% in the fourth quarter. Steadfast Capital Management LP now owns 288,949 shares of the company’s stock valued at $77,204,000 after purchasing an additional 203,826 shares during the period. Norges Bank acquired a new position in shares of RH in the 4th quarter worth approximately $46,157,000. Bank of America Corp DE lifted its holdings in shares of RH by 148.8% in the 1st quarter. Bank of America Corp DE now owns 244,618 shares of the company’s stock worth $59,577,000 after acquiring an additional 146,280 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in RH by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,859,724 shares of the company’s stock valued at $457,623,000 after acquiring an additional 98,713 shares during the period. 84.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RH shares. Loop Capital reduced their target price on RH from $370.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. Robert W. Baird reduced their target price on RH from $250.00 to $230.00 in a report on Friday. Bank of America reduced their target price on RH from $338.00 to $315.00 in a report on Sunday, April 2nd. Morgan Stanley decreased their price objective on shares of RH from $275.00 to $260.00 in a research note on Friday. Finally, Barclays dropped their target price on RH from $314.00 to $277.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $278.38.

About RH

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RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings. The company provides its products through its retail galleries; and Source Books, a series of catalogs, as well as online through rh.com, rhbabyandchild.com, rhteen.com, and rhmodern.com, as well as waterworks.com.