RH to Post Q3 2023 Earnings of $7.63 Per Share, Telsey Advisory Group Forecasts (NYSE:RH)

RH (NYSE:RHGet Rating) – Research analysts at Telsey Advisory Group dropped their Q3 2023 earnings per share (EPS) estimates for RH in a report issued on Tuesday, May 31st. Telsey Advisory Group analyst J. Feldman now anticipates that the company will post earnings of $7.63 per share for the quarter, down from their prior forecast of $7.74. Telsey Advisory Group has a “Outperform” rating and a $400.00 price objective on the stock. Telsey Advisory Group also issued estimates for RH’s Q4 2023 earnings at $6.12 EPS, Q1 2024 earnings at $5.76 EPS, Q2 2024 earnings at $7.69 EPS, Q3 2024 earnings at $8.13 EPS, Q4 2024 earnings at $6.50 EPS and FY2024 earnings at $28.10 EPS.

RH (NYSE:RHGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported $5.66 EPS for the quarter, topping the consensus estimate of $5.64 by $0.02. RH had a return on equity of 85.67% and a net margin of 18.32%. The business had revenue of $902.74 million during the quarter, compared to analysts’ expectations of $931.50 million. During the same period in the previous year, the business earned $5.07 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis.

RH has been the subject of a number of other reports. Bank of America cut their price objective on RH from $650.00 to $550.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their target price on RH from $750.00 to $500.00 and set an “overweight” rating for the company in a report on Wednesday, March 9th. UBS Group dropped their target price on RH from $550.00 to $470.00 and set a “neutral” rating for the company in a report on Wednesday, March 30th. Jefferies Financial Group upgraded RH from a “hold” rating to a “buy” rating and dropped their target price for the company from $634.00 to $560.00 in a report on Wednesday, March 30th. Finally, Citigroup dropped their target price on RH from $668.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, March 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $572.72.

RH opened at $290.00 on Thursday. The stock has a 50-day moving average price of $317.35 and a 200-day moving average price of $416.55. RH has a 12-month low of $236.29 and a 12-month high of $744.56. The company has a current ratio of 2.91, a quick ratio of 2.22 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $6.30 billion, a P/E ratio of 13.14, a PEG ratio of 0.97 and a beta of 2.20.

In other RH news, CFO Jack M. Preston sold 28,779 shares of the stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $326.31, for a total transaction of $9,390,875.49. Following the sale, the chief financial officer now directly owns 5,622 shares in the company, valued at approximately $1,834,514.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hilary K. Krane sold 138 shares of the stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $328.93, for a total value of $45,392.34. Following the sale, the director now owns 7,116 shares in the company, valued at $2,340,665.88. The disclosure for this sale can be found here. Insiders sold a total of 466,896 shares of company stock worth $149,399,586 in the last 90 days. 23.40% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC purchased a new position in shares of RH in the 1st quarter worth $33,000. Ogorek Anthony Joseph NY ADV raised its holdings in RH by 137.0% in the 1st quarter. Ogorek Anthony Joseph NY ADV now owns 109 shares of the company’s stock worth $35,000 after purchasing an additional 63 shares during the period. Fifth Third Bancorp raised its holdings in RH by 79.4% in the 1st quarter. Fifth Third Bancorp now owns 113 shares of the company’s stock worth $37,000 after purchasing an additional 50 shares during the period. Ellevest Inc. raised its holdings in RH by 150.0% in the 4th quarter. Ellevest Inc. now owns 70 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares during the period. Finally, KB Financial Partners LLC raised its holdings in RH by 61.6% in the 1st quarter. KB Financial Partners LLC now owns 118 shares of the company’s stock worth $38,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 96.27% of the company’s stock.

RH Company Profile (Get Rating)

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.

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