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

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

RH Trading Up 3.8 %

RH stock opened at $297.10 on Thursday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.85 and a beta of 2.43. RH has a 12 month low of $207.26 and a 12 month high of $406.38. The firm has a 50-day moving average price of $271.63 and a 200-day moving average price of $268.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RH shares. Robert W. Baird boosted their target price on shares of RH from $280.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday. Telsey Advisory Group reissued a “market perform” rating and issued a $335.00 target price (up previously from $285.00) on shares of RH in a research report on Tuesday. Bank of America dropped their price target on RH from $345.00 to $309.00 and set a “buy” rating for the company in a research note on Friday, December 8th. StockNews.com cut shares of RH from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, Wedbush upped their price objective on shares of RH from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Thursday. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $320.29.

Insider Transactions at RH

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in RH by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,859,724 shares of the company’s stock valued at $457,623,000 after buying an additional 98,713 shares during the last quarter. Durable Capital Partners LP raised its holdings in RH by 2.6% in the 1st quarter. Durable Capital Partners LP now owns 677,603 shares of the company’s stock valued at $220,960,000 after buying an additional 17,196 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in RH by 26.9% in the 4th 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 last quarter. Morgan Stanley raised its holdings in RH by 145.6% in the 4th quarter. Morgan Stanley now owns 594,574 shares of the company’s stock valued at $158,864,000 after buying an additional 352,456 shares during the last quarter. Finally, State Street Corp raised its holdings in RH by 10.1% in the 3rd quarter. State Street Corp now owns 502,349 shares of the company’s stock valued at $123,613,000 after buying an additional 45,954 shares during the last quarter. Institutional investors own 90.17% of the company’s stock.

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.