Equities Analysts Offer Predictions for Richelieu Hardware Ltd.’s FY2024 Earnings (TSE:RCH)

Richelieu Hardware Ltd. (TSE:RCH) – Equities research analysts at National Bank Financial lowered their FY2024 earnings per share estimates for Richelieu Hardware in a research note issued to investors on Thursday, October 10th. National Bank Financial analyst Z. Evershed now forecasts that the company will earn $1.51 per share for the year, down from their prior estimate of $1.54. National Bank Financial also issued estimates for Richelieu Hardware’s FY2025 earnings at $1.89 EPS.

Richelieu Hardware (TSE:RCH) last issued its quarterly earnings results on Thursday, October 10th. The company reported C$0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.44 by C($0.03). The business had revenue of C$467.75 million for the quarter, compared to analysts’ expectations of C$468.40 million. Richelieu Hardware had a return on equity of 10.32% and a net margin of 4.97%.

Several other research firms also recently weighed in on RCH. National Bankshares set a C$45.50 target price on Richelieu Hardware and gave the company a “sector perform” rating in a research report on Tuesday, June 18th. CIBC decreased their target price on Richelieu Hardware from C$45.00 to C$44.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

Richelieu Hardware Stock Performance

Shares of RCH stock opened at C$39.07 on Monday. The company has a market capitalization of C$2.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 0.77 and a beta of 0.94. The business’s 50 day moving average is C$39.43 and its two-hundred day moving average is C$39.78. Richelieu Hardware has a 12-month low of C$37.39 and a 12-month high of C$48.27. The company has a current ratio of 3.46, a quick ratio of 0.72 and a debt-to-equity ratio of 26.31.

Richelieu Hardware Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Richelieu Hardware’s dividend payout ratio is presently 37.50%.

Insider Activity at Richelieu Hardware

In other Richelieu Hardware news, Director Marc Poulin bought 3,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was bought at an average price of C$39.84 per share, with a total value of C$119,526.90. In other news, Director Marc Poulin acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was acquired at an average cost of C$39.84 per share, with a total value of C$119,526.90. Also, Senior Officer Antoine Auclair sold 2,100 shares of Richelieu Hardware stock in a transaction on Thursday, July 18th. The shares were sold at an average price of C$39.71, for a total value of C$83,393.94. Over the last 90 days, insiders sold 9,100 shares of company stock valued at $361,346. 7.62% of the stock is currently owned by insiders.

About Richelieu Hardware

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.