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

RH (NYSE:RH) announced its earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13, Briefing.com reports. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The firm had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same period in the prior year, the business earned $3.93 EPS. The company’s revenue for the quarter 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 Stock Up 3.9 %

RH opened at $256.57 on Friday. RH has a twelve month low of $207.26 and a twelve month high of $354.86. The company has a 50-day simple moving average of $261.91 and a 200 day simple moving average of $265.85. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 71.07, a P/E/G ratio of 1.08 and a beta of 2.42.

Insiders Place Their Bets

In other RH news, CEO Gary G. Friedman bought 34,200 shares of the stock in a transaction on Tuesday, June 25th. The stock was purchased at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the purchase, 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 SEC, which is accessible through this link. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RH. Sanctuary Advisors LLC acquired a new stake in RH during the 2nd quarter valued at approximately $601,000. Creative Planning increased its position in RH by 4.2% during the 2nd quarter. Creative Planning now owns 2,426 shares of the company’s stock valued at $593,000 after purchasing an additional 97 shares during the period. Smith Thornton Advisors LLC acquired a new stake in RH during the 2nd quarter valued at approximately $283,000. BlackBarn Capital Partners LP increased its position in RH by 156.8% during the 2nd quarter. BlackBarn Capital Partners LP now owns 43,655 shares of the company’s stock valued at $10,671,000 after purchasing an additional 26,655 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in RH during the 2nd quarter valued at approximately $1,289,000. Institutional investors and hedge funds own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wedbush lowered their price target on shares of RH from $320.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. TD Cowen dropped their target price on RH from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, June 14th. BNP Paribas upgraded RH to a “hold” rating in a research note on Friday, June 14th. StockNews.com upgraded RH to a “sell” rating in a research note on Friday, June 21st. Finally, Wells Fargo & Company decreased their target price on shares of RH from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RH currently has an average rating of “Hold” and an average target price of $296.33.

About RH

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.