Richelieu Hardware Ltd. (TSE:RCH) Expected to Post Q1 2023 Earnings of $0.49 Per Share

Richelieu Hardware Ltd. (TSE:RCHGet Rating) – Analysts at National Bank Financial issued their Q1 2023 EPS estimates for shares of Richelieu Hardware in a research report issued to clients and investors on Thursday, January 19th. National Bank Financial analyst Z. Evershed forecasts that the company will post earnings of $0.49 per share for the quarter. The consensus estimate for Richelieu Hardware’s current full-year earnings is $2.43 per share. National Bank Financial also issued estimates for Richelieu Hardware’s Q2 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.63 EPS, Q4 2023 earnings at $0.62 EPS and FY2024 earnings at $2.31 EPS.

Several other equities research analysts have also commented on the stock. TD Securities lowered shares of Richelieu Hardware from a “buy” rating to a “hold” rating and set a C$45.00 price objective on the stock. in a research report on Friday, October 7th. CIBC reduced their target price on shares of Richelieu Hardware from C$47.00 to C$46.00 in a report on Tuesday, January 10th. Finally, National Bankshares reduced their target price on shares of Richelieu Hardware from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a report on Friday.

Richelieu Hardware Price Performance

Richelieu Hardware stock opened at C$37.96 on Monday. Richelieu Hardware has a 52 week low of C$32.35 and a 52 week high of C$51.52. The company has a quick ratio of 0.72, a current ratio of 2.75 and a debt-to-equity ratio of 26.69. The firm’s 50-day simple moving average is C$37.09 and its 200 day simple moving average is C$36.80. The firm has a market capitalization of C$2.12 billion and a PE ratio of 12.74.

Richelieu Hardware Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 16th. Shareholders of record on Thursday, February 2nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Richelieu Hardware’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, February 1st. Richelieu Hardware’s dividend payout ratio is 13.09%.

About Richelieu Hardware

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Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. The company's principal product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, high-pressure laminates, railing and balusters, and floor protection products, as well as accessories for power tools.

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