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

RH (NYSE:RH) posted its earnings results on Wednesday. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.99), Briefing.com reports. The business had revenue of $738.26 million for the quarter, compared to the consensus estimate of $777.50 million. RH had a return on equity of 199.51% and a net margin of 4.21%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 earnings per share. RH updated its FY 2024 guidance to EPS.

RH Stock Up 17.2 %

Shares of RH stock opened at $347.99 on Friday. The business has a 50-day moving average price of $273.49 and a two-hundred day moving average price of $268.20. RH has a 12-month low of $207.26 and a 12-month high of $406.38. The firm has a market cap of $6.40 billion, a P/E ratio of 62.48, a price-to-earnings-growth ratio of 2.99 and a beta of 2.43.

Insider Activity

In related news, insider Edward T. Lee sold 2,624 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $264.50, for a total value of $694,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.90% of the company’s stock.

Institutional Investors Weigh In On RH

Several institutional investors have recently added to or reduced their stakes in RH. Vanguard Group Inc. grew its holdings in shares of RH by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,859,724 shares of the company’s stock worth $457,623,000 after acquiring an additional 98,713 shares during the period. Durable Capital Partners LP raised its holdings in RH by 2.6% in the first quarter. Durable Capital Partners LP now owns 677,603 shares of the company’s stock worth $220,960,000 after purchasing an additional 17,196 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in RH by 26.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 603,185 shares of the company’s stock valued at $175,817,000 after buying an additional 127,889 shares during the period. Morgan Stanley increased its stake in shares of RH by 145.6% in the 4th quarter. Morgan Stanley now owns 594,574 shares of the company’s stock worth $158,864,000 after acquiring an additional 352,456 shares in the last quarter. Finally, State Street Corp boosted its position in shares of RH by 10.1% in the 3rd quarter. State Street Corp now owns 502,349 shares of the company’s stock worth $123,613,000 after purchasing an additional 45,954 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RH shares. Morgan Stanley dropped their price target on shares of RH from $340.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Friday, December 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $335.00 price objective (up previously from $285.00) on shares of RH in a research report on Tuesday. Bank of America reduced their target price on shares of RH from $345.00 to $309.00 and set a “buy” rating for the company in a research report on Friday, December 8th. TD Cowen dropped their price objective on RH from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, December 8th. Finally, JPMorgan Chase & Co. lifted their price objective on RH from $329.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, RH presently has a consensus rating of “Hold” and an average target price of $322.07.

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.