FY2024 EPS Estimates for Richelieu Hardware Ltd. (TSE:RCH) Lowered by Analyst

Richelieu Hardware Ltd. (TSE:RCH) – Equities researchers at National Bank Financial dropped their FY2024 earnings estimates for shares of Richelieu Hardware in a note issued to investors on Thursday, October 10th. National Bank Financial analyst Z. Evershed now anticipates that the company will post earnings of $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 announced its quarterly earnings results on Thursday, October 10th. The company reported C$0.41 earnings per share for the quarter, missing the consensus estimate of C$0.44 by C($0.03). The company had revenue of C$467.75 million for the quarter, compared to the consensus estimate of C$468.40 million. Richelieu Hardware had a net margin of 4.97% and a return on equity of 10.32%.

RCH has been the subject of a number of other research reports. National Bankshares set a C$45.50 price target on Richelieu Hardware and gave the stock a “sector perform” rating in a research note on Tuesday, June 18th. CIBC reduced their price target 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 Stock Up 0.1 %

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

Insider Activity

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

Richelieu Hardware Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, October 24th. Richelieu Hardware’s dividend payout ratio is currently 37.50%.

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.