RH (NYSE:RH) Releases Quarterly Earnings Results, Misses Estimates By $0.99 EPS

RH (NYSE:RH) announced 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 firm had revenue of $738.26 million for the quarter, compared to analyst estimates of $777.50 million. RH had a net margin of 7.28% and a return on equity of 81.84%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 EPS. RH updated its FY 2024 guidance to EPS.

RH Trading Up 3.8 %

RH stock opened at $297.10 on Thursday. RH has a twelve month low of $207.26 and a twelve month high of $406.38. The company’s 50 day moving average is $271.63 and its two-hundred day moving average is $268.34. The stock has a market cap of $5.47 billion, a P/E ratio of 32.26, a PEG ratio of 2.85 and a beta of 2.43.

Wall Street Analysts Forecast Growth

RH has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $335.00 target price (up previously from $285.00) on shares of RH in a research note on Tuesday. Robert W. Baird increased their price target on shares of RH from $280.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen reduced their price target on shares of RH from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Friday, December 8th. StockNews.com cut shares of RH from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, Wedbush increased their price target on shares of RH from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $320.29.

Insiders Place Their Bets

In other news, insider Edward T. Lee sold 2,624 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $264.50, for a total transaction of $694,048.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RH

Several institutional investors have recently made changes to their positions in the stock. FIL Ltd raised its stake in RH by 12,893.3% in the 4th quarter. FIL Ltd now owns 3,898 shares of the company’s stock valued at $1,136,000 after purchasing an additional 3,868 shares during the last quarter. Systematic Portfolios LLC acquired a new position in shares of RH in the 4th quarter valued at $242,000. Nuveen Asset Management LLC raised its stake in shares of RH by 111.1% in the 4th quarter. Nuveen Asset Management LLC now owns 93,771 shares of the company’s stock valued at $27,332,000 after acquiring an additional 49,342 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of RH in the 4th quarter valued at $950,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of RH by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 603,185 shares of the company’s stock valued at $175,817,000 after acquiring an additional 127,889 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

RH Company Profile

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.