Jefferies Financial Group analysts cut earnings estimates for RH (NYSE:RH)


RH (NYSE:RH – Get Rating) – Jefferies Financial Group cut its third quarter 2023 earnings per share estimates for RH stocks in a research note released to investors on Wednesday, June 29. Jefferies Financial Group analyst J. Matuszewski now expects the company to post earnings of $5.68 per share for the quarter, down from its previous forecast of $7.30. Jefferies Financial Group currently has a “Buy” rating and a price target of $400.00 on the stock. RH’s current annual earnings consensus estimate is $26.10 per share. Jefferies Financial Group also released estimates for HR earnings in the fourth quarter of 2023 at $4.29 EPS, fiscal year 2023 earnings at $25.07 EPS, Q1 2024 earnings at $7.17 EPS, Q3 2024 earnings at $5.65 EPS, Q4 2024 earnings at $4.43 EPS and FY2024 earnings at $24.20 EPS.

RH (NYSE:RH – Get Rating) last released its quarterly results on Thursday, June 2. The company reported earnings per share of $7.78 for the quarter, beating the consensus estimate of $5.40 by $2.38. The company posted revenue of $957.00 million for the quarter, versus analyst estimates of $924.76 million. RH had a return on equity of 77.40% and a net margin of 19.68%. The company’s quarterly revenue increased 11.2% year over year. In the same quarter of the previous year, the company achieved EPS of $4.89.

A number of other research analysts also weighed in on HR. Loop Capital cut its target price on RH from $500.00 to $420.00 and set a “buy” rating on the stock in a report Thursday. UBS Group lowered its price target on RH from $550.00 to $470.00 and set a “neutral” rating on the stock in a Wednesday, March 30 report. JPMorgan Chase & Co. lowered its price target on RH from $400.00 to $300.00 and set an “overweight” rating on the stock in a report released Thursday. Guggenheim lowered its price target on RH from $825.00 to $600.00 and set a “buy” rating on the stock in a Wednesday, March 30 report. Finally, Morgan Stanley cut its price target on RH from $385.00 to $350.00 and set an “equal weight” rating on the stock in a report on Thursday. Six research analysts gave the stock a hold rating and twelve gave the stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $366.13.

RH stock opened at $220.70 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.90 and a debt ratio of 1.97. The company has a market capitalization of $5.45 billion, a PE ratio of 7.35, a PEG ratio of 0.78 and a beta of 2.27. RH has a 1-year low of $207.37 and a 1-year high of $744.56. The company’s 50-day simple moving average is $282.16 and its 200-day simple moving average is $362.42.

Major investors have recently changed their positions in the company. D1 Capital Partners LP increased its equity stake in RH by 32.8% in the fourth quarter. D1 Capital Partners LP now owns 1,286,235 shares of the company valued at $689,345,000 after purchasing an additional 318,000 shares last quarter. Lone Pine Capital LLC increased its position in HR by 24.3% in the fourth quarter. Lone Pine Capital LLC now owns 1,603,888 shares of the company worth $859,588,000 after purchasing an additional 313,268 shares in the last quarter. Select Equity Group LP increased its position in HR by 169.3% in the fourth quarter. Select Equity Group LP now owns 423,889 shares of the company worth $227,179,000 after purchasing an additional 266,464 shares in the last quarter. Third Point LLC increased its position in HR stocks by 78.3% in the fourth quarter. Third Point LLC now owns 535,000 shares of the company valued at $286,728,000 after purchasing an additional 235,000 shares in the last quarter. Finally, Point72 Asset Management LP increased its position in HR stocks by 2,284.5% in the fourth quarter. Point72 Asset Management LP now owns 93,879 shares of the company valued at $50,314,000 after purchasing an additional 89,942 shares in the last quarter. Institutional investors and hedge funds hold 96.27% of the company’s shares.

Separately, insider Edward T. Lee sold 400 shares in a trade dated Friday, April 29. The stock was sold at an average price of $349.28, for a total value of $139,712.00. Following the completion of the sale, the insider now owns 2,624 shares of the company, valued at $916,510.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Additionally, director Hilary K. Krane sold 138 shares in a trade dated Monday, April 25. The shares were sold at an average price of $319.64, for a total value of $44,110.32. Following the completion of the sale, the director now directly owns 6,978 shares of the company, valued at approximately $2,230,447.92. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 62,009 shares of the company valued at $18,133,573. 23.40% of the shares are held by company insiders.

About HR (Get a rating)

RH, together with its subsidiaries, operates as a home furnishings retailer. It offers products in various categories, including furniture, lighting, textiles, bathware, home decor, outdoor and garden, as well as furniture for children and teenagers. The company offers its products through its retail galleries; and Source Books, a series of catalogs, as well as online via rh.com, rhbabyandchild.com, rhteen.com and rhmodern.com, as well as waterworks.com.

Further reading

Earnings history and estimates for RH (NYSE:RH)



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