Research Analysts Set Expectations for Restoration Hardware Holdings Inc.’s Q3 2018 Earnings (RH)
Restoration Hardware Holdings Inc. (NYSE:RH) – KeyCorp upped their Q3 2018 earnings per share estimates for shares of Restoration Hardware Holdings in a research note issued to investors on Wednesday. KeyCorp analyst B. Thomas now expects that the company will earn $0.80 per share for the quarter, up from their prior estimate of $0.78. KeyCorp has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Restoration Hardware Holdings’ FY2018 earnings at $2.65 EPS and FY2019 earnings at $3.70 EPS.
Restoration Hardware Holdings (NYSE:RH) last issued its quarterly earnings data on Wednesday, September 6th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.18. The company had revenue of $615.30 million during the quarter, compared to the consensus estimate of $606.38 million. During the same period in the previous year, the company earned $0.44 earnings per share. Restoration Hardware Holdings’s revenue for the quarter was up 13.2% compared to the same quarter last year.
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A number of other equities research analysts have also recently issued reports on the company. Deutsche Bank AG cut Restoration Hardware Holdings from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a research note on Friday, July 21st. Bank of America Corporation initiated coverage on Restoration Hardware Holdings in a research note on Monday, July 17th. They issued an “underperform” rating and a $54.00 price objective on the stock. Zacks Investment Research upgraded Restoration Hardware Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Citigroup Inc. cut Restoration Hardware Holdings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $76.00 in a research note on Monday, July 24th. Finally, Piper Jaffray Companies boosted their price objective on Restoration Hardware Holdings from $43.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.02.
A number of institutional investors and hedge funds have recently modified their holdings of RH. BlackRock Inc. boosted its stake in Restoration Hardware Holdings by 18,735.0% in the first quarter. BlackRock Inc. now owns 4,680,693 shares of the company’s stock worth $216,529,000 after buying an additional 4,655,842 shares in the last quarter. Vanguard Group Inc. boosted its stake in Restoration Hardware Holdings by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,352,950 shares of the company’s stock worth $155,107,000 after buying an additional 423,925 shares in the last quarter. Credit Suisse AG purchased a new stake in Restoration Hardware Holdings in the first quarter worth approximately $15,995,000. Principal Financial Group Inc. boosted its stake in Restoration Hardware Holdings by 102.4% in the first quarter. Principal Financial Group Inc. now owns 295,517 shares of the company’s stock worth $13,671,000 after buying an additional 149,509 shares in the last quarter. Finally, TIAA CREF Investment Management LLC purchased a new stake in Restoration Hardware Holdings in the first quarter worth approximately $4,814,000. 95.71% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Gary G. Friedman acquired 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average cost of $70.94 per share, for a total transaction of $993,160.00. Following the completion of the transaction, the chief executive officer now owns 2,212,051 shares in the company, valued at $156,922,897.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary G. Friedman acquired 13,959 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was bought at an average price of $71.64 per share, for a total transaction of $1,000,022.76. Following the completion of the transaction, the chief executive officer now owns 2,235,410 shares of the company’s stock, valued at approximately $160,144,772.40. The disclosure for this purchase can be found here. 18.80% of the stock is currently owned by corporate insiders.
Restoration Hardware Holdings Company Profile
RH, formerly Restoration Hardware Holdings, Inc, is a retailer in the home furnishings marketplace. As of January 28, 2017, the Company had two segments: RH Segment and Waterworks. It offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings.
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