Q2 2024 EPS Estimates for Richelieu Hardware Ltd. Lowered by Analyst (TSE:RCH)

Richelieu Hardware Ltd. (TSE:RCH) – Analysts at National Bank Financial cut their Q2 2024 earnings estimates for shares of Richelieu Hardware in a note issued to investors on Monday, June 17th. National Bank Financial analyst Z. Evershed now forecasts that the company will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.48. The consensus estimate for Richelieu Hardware’s current full-year earnings is $1.80 per share. National Bank Financial also issued estimates for Richelieu Hardware’s Q3 2024 earnings at $0.51 EPS and FY2024 earnings at $1.77 EPS.

Richelieu Hardware (TSE:RCH) last released its earnings results on Thursday, April 11th. The company reported C$0.27 EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.07). Richelieu Hardware had a return on equity of 12.18% and a net margin of 5.82%. The business had revenue of C$406.86 million for the quarter, compared to analyst estimates of C$417.50 million.

Other analysts have also recently issued research reports about the stock. CIBC lowered their price objective on shares of Richelieu Hardware from C$46.00 to C$45.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. National Bankshares set a C$45.50 price objective on shares of Richelieu Hardware and gave the company a “sector perform” rating in a research report on Tuesday.

Richelieu Hardware Price Performance

RCH opened at C$38.68 on Wednesday. The company has a fifty day moving average price of C$39.37 and a two-hundred day moving average price of C$42.47. The company has a debt-to-equity ratio of 27.08, a quick ratio of 0.72 and a current ratio of 3.66. Richelieu Hardware has a 52 week low of C$37.39 and a 52 week high of C$48.27. The firm has a market capitalization of C$2.17 billion, a PE ratio of 20.91, a P/E/G ratio of 0.77 and a beta of 0.97.

Insiders Place Their Bets

In other Richelieu Hardware news, Director Marc Poulin sold 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$39.33, for a total transaction of C$118,000.20. In other Richelieu Hardware news, Senior Officer Guy Grenier sold 6,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$39.33, for a total transaction of C$236,000.40. Also, Director Marc Poulin sold 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$39.33, for a total value of C$118,000.20. Corporate insiders own 7.59% of the company’s stock.

Richelieu Hardware Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, April 24th. Richelieu Hardware’s dividend payout ratio (DPR) is presently 32.43%.

Richelieu Hardware Company Profile

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.