National Bank Financial Equities Analysts Lower Earnings Estimates for Richelieu Hardware Ltd. (TSE:RCH)

Richelieu Hardware Ltd. (TSE:RCH) – Equities research analysts at National Bank Financial cut their Q2 2024 earnings estimates for Richelieu Hardware in a report released on Thursday, April 11th. National Bank Financial analyst Z. Evershed now expects that the company will post earnings per share of $0.48 for the quarter, down from their previous forecast of $0.54. National Bank Financial has a “Sector Perform Market Weight” rating on the stock. The consensus estimate for Richelieu Hardware’s current full-year earnings is $1.88 per share. National Bank Financial also issued estimates for Richelieu Hardware’s Q3 2024 earnings at $0.56 EPS, FY2024 earnings at $1.89 EPS and FY2025 earnings at $2.21 EPS.

Richelieu Hardware (TSE:RCH) last announced its earnings results on Thursday, January 18th. The company reported C$0.51 earnings per share for the quarter, missing the consensus estimate of C$0.54 by C($0.03). The firm had revenue of C$453.70 million during the quarter, compared to analyst estimates of C$443.00 million. Richelieu Hardware had a net margin of 6.24% and a return on equity of 13.18%.

Several other equities research analysts also recently weighed in on RCH. CIBC lowered their target price on shares of Richelieu Hardware from C$46.00 to C$45.00 and set a “neutral” rating for the company in a research note on Friday. National Bankshares downgraded shares of Richelieu Hardware from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$47.60 to C$45.50 in a research note on Friday, January 19th.

Richelieu Hardware Price Performance

Shares of RCH opened at C$40.13 on Monday. The company has a market cap of C$2.25 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. Richelieu Hardware has a twelve month low of C$37.23 and a twelve month high of C$48.27. The company has a quick ratio of 0.72, a current ratio of 3.62 and a debt-to-equity ratio of 23.05. The company has a 50 day moving average of C$43.03 and a two-hundred day moving average of C$43.31.

Richelieu Hardware Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 9th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. Richelieu Hardware’s payout ratio is 30.30%.

Insider Buying and Selling at Richelieu Hardware

In other news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$43.73, for a total value of C$131,198.70. In related news, Senior Officer Yannick Godeau sold 1,000 shares of Richelieu Hardware stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$43.90, for a total transaction of C$43,899.40. Also, Senior Officer Guy Grenier sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$43.73, for a total transaction of C$131,198.70. 7.56% of the stock is owned by insiders.

About Richelieu Hardware

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. 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; floor protection products; and power tool accessories.