PREVIEW: RH shares edge up; Q2 rev seen rising, EPS expected to tumble

RH

12/09/2024 16:19

** Shares in home furnishing co RH  RH.N  up 0.7% in choppy
trading on Thursday ahead of its fiscal Q2 report due after
market close 
    ** RH expected to report adj. EPS of $1.56 vs $3.93 in
year-ago quarter on rev of $824.52 mln, which would be up 3%
y/y, according to the latest data from LSEG
    ** In the last 8 quarters beat EPS consensus 4 times with
its biggest miss in Q1 this year (~225%) while rev beat 5 times
with biggest miss Q4 last year (~5%)
    ** In June RH's 3%-4% Q2 rev growth forecast disappointed
Wall Street; Co had expected "constantly changing outlook
regarding monetary policy" to weigh on housing market through
2nd half  2024, "possibly into 2025"
    ** RH last traded at $248.65 vs median PT of $290 vs $300 a
month ago as per LSGE which shows 21 analyst ratings: 5 'strong
buy,' 3 'buy,' 12 'hold' and 1 'sell'
    ** YTD shares in RH off ~15% vs ~4% gain for S&P 400
consumer discretionary index  .SPMDCD       

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))