Richelieu Hardware Ltd. (TSE:RCH) to Post FY2024 Earnings of $1.51 Per Share, National Bank Financial Forecasts

Richelieu Hardware Ltd. (TSE:RCH) – Equities research analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Richelieu Hardware in a research report issued to clients and 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.

A number of other equities analysts also recently commented on the company. National Bankshares set a C$45.50 target price on Richelieu Hardware and gave the company a “sector perform” rating in a 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 for the company in a report on Monday, July 15th.

Richelieu Hardware Price Performance

Shares of Richelieu Hardware stock opened at C$39.07 on Monday. The company has a quick ratio of 0.72, a current ratio of 3.46 and a debt-to-equity ratio of 26.31. The company has a market cap of C$2.18 billion, a PE ratio of 24.42, a P/E/G ratio of 0.77 and a beta of 0.94. The business has a 50 day moving average of C$39.40 and a 200 day moving average of C$39.75. Richelieu Hardware has a 52 week low of C$37.39 and a 52 week high of C$48.27.

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

Insiders Place Their Bets

In other Richelieu Hardware news, Senior Officer Antoine Auclair sold 4,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of C$40.25, for a total value of C$161,009.20. In other news, Senior Officer Guy Grenier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$38.98, for a total transaction of C$116,943.00. Also, Senior Officer Antoine Auclair sold 4,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of C$40.25, for a total value of C$161,009.20. Over the last 90 days, insiders sold 9,100 shares of company stock worth $361,346. 7.62% of the stock is owned by corporate insiders.

Richelieu Hardware Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, November 7th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. Richelieu Hardware’s dividend payout ratio (DPR) is 37.50%.

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.