Q2 2023 Earnings Estimate for Richelieu Hardware Ltd. (TSE:RCH) Issued By National Bank Financial

Sep 25, 2023

Richelieu Hardware Ltd. (TSE:RCH - Get Rating) - Equities research analysts at National Bank Financial cut their Q2 2023 earnings estimates for Richelieu Hardware in a note issued to investors on Wednesday, June 7th. National Bank Financial analyst Z. Evershed now anticipates that the company will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for Richelieu Hardware's current full-year earnings is $2.30 per share. National Bank Financial also issued estimates for Richelieu Hardware's Q4 2023 earnings at $0.57 EPS.

Richelieu Hardware (TSE:RCH - Get Rating) last announced its quarterly earnings data on Thursday, April 6th. The company reported C$0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.39 by C$0.01. The company had revenue of C$403.03 million for the quarter, compared to analysts' expectations of C$376.90 million. Richelieu Hardware had a net margin of 8.82% and a return on equity of 21.16%.

A number of other equities analysts have also recently weighed in on the stock. National Bankshares lowered their price target on shares of Richelieu Hardware from C$54.00 to C$49.00 in a research note on Tuesday, March 21st. CIBC lowered shares of Richelieu Hardware from an "outperform" rating to a "neutral" rating in a research report on Monday.

Shares of RCH opened at C$42.36 on Friday. The company has a debt-to-equity ratio of 39.47, a quick ratio of 0.72 and a current ratio of 2.56. The stock has a market capitalization of C$2.36 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.77 and a beta of 1.04. The company's fifty day moving average is C$41.36 and its two-hundred day moving average is C$39.28. Richelieu Hardware has a 1 year low of C$32.52 and a 1 year high of C$45.87.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 4th. Stockholders of record on Thursday, May 4th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, April 19th. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. Richelieu Hardware's payout ratio is currently 20.91%.

In other news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of C$39.70, for a total transaction of C$119,100.00. Insiders own 7.62% of the company's stock.

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. 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, and floor protection products, as well as accessories for power tools.

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