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

RH (NYSE:RH) announced its earnings results on Wednesday. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.99), Briefing.com reports. RH had a return on equity of 81.84% and a net margin of 7.28%. The firm had revenue of $738.26 million for the quarter, compared to the consensus estimate of $777.50 million. During the same period in the prior year, the business earned $2.88 EPS. RH’s quarterly revenue was down 4.4% on a year-over-year basis. RH updated its FY 2024 guidance to EPS.

RH Price Performance

Shares of NYSE RH opened at $297.10 on Thursday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 32.26, a P/E/G ratio of 2.85 and a beta of 2.43. The company has a 50-day moving average price of $271.63 and a 200-day moving average price of $268.34. RH has a 1 year low of $207.26 and a 1 year high of $406.38.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RH. Robert W. Baird lifted their target price on shares of RH from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley lowered their target price on shares of RH from $340.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, December 8th. Wedbush lifted their target price on shares of RH from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of RH from $329.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Bank of America decreased their price target on shares of RH from $345.00 to $309.00 and set a “buy” rating for the company in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RH currently has a consensus rating of “Hold” and a consensus price target of $320.29.

Insider Activity

In other news, insider Edward T. Lee sold 2,624 shares of RH stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $264.50, for a total transaction of $694,048.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RH. Steward Partners Investment Advisory LLC boosted its holdings in RH by 13.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 940 shares of the company’s stock worth $229,000 after purchasing an additional 108 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in RH by 61.6% during the first quarter. Evergreen Capital Management LLC now owns 674 shares of the company’s stock worth $220,000 after purchasing an additional 257 shares during the last quarter. Lido Advisors LLC boosted its holdings in RH by 18.4% during the first quarter. Lido Advisors LLC now owns 670 shares of the company’s stock worth $218,000 after purchasing an additional 104 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in RH during the first quarter worth about $215,000. Finally, US Bancorp DE boosted its holdings in RH by 13.2% during the first quarter. US Bancorp DE now owns 650 shares of the company’s stock worth $213,000 after purchasing an additional 76 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

About RH

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.