Richelieu Hardware Ltd. (TSE:RCH – Get Rating) – Analysts at National Bank Financial increased their Q2 2022 earnings estimates for shares of Richelieu Hardware in a research note issued to investors on Wednesday, June 22nd. National Bank Financial analyst Z. Evershed now forecasts that the company will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.70. The consensus estimate for Richelieu Hardware’s current full-year earnings is $2.39 per share. National Bank Financial also issued estimates for Richelieu Hardware’s FY2022 earnings at $2.64 EPS. Richelieu Hardware (TSE:RCH – Get Rating) last announced its quarterly earnings results on Thursday, April 7th. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.63 by C($0.10). The firm had revenue of C$384.47 million for the quarter, compared to analysts’ expectations of C$400.40 million.
A number of other analysts also recently issued reports on RCH. TD Securities lowered their price target on shares of Richelieu Hardware from C$52.00 to C$48.00 and set a “hold” rating on the stock in a report on Friday, April 8th. National Bankshares increased their price objective on shares of Richelieu Hardware from C$53.50 to C$54.50 and gave the company an “outperform” rating in a report on Friday, April 8th. Finally, CIBC upgraded shares of Richelieu Hardware from a “neutral” rating to a “buy” rating and set a C$47.00 target price for the company in a research report on Thursday, May 26th.
Shares of Richelieu Hardware stock opened at C$35.13 on Friday. The firm has a market capitalization of C$1.97 billion and a price-to-earnings ratio of 13.16. Richelieu Hardware has a 12-month low of C$32.35 and a 12-month high of C$51.52. The firm’s 50 day single moving average is C$36.38 and its two-hundred day single moving average is C$42.47. The company has a current ratio of 2.90, a quick ratio of 0.89 and a debt-to-equity ratio of 21.23.
In other news, Director Marc Poulin purchased 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average price of C$34.98 per share, for a total transaction of C$48,972.00. Following the completion of the purchase, the director now directly owns 9,400 shares of the company’s stock, valued at C$328,812. Also, Director Richard Lord purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was purchased at an average price of C$36.84 per share, with a total value of C$110,530.80. Following the purchase, the director now directly owns 4,220,040 shares of the company’s stock, valued at C$155,481,465.74. In the last three months, insiders bought 7,350 shares of company stock valued at $262,981.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Thursday, May 5th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Wednesday, April 20th. Richelieu Hardware’s payout ratio is 10.12%.
About Richelieu Hardware (Get Rating)
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, and floor protective products.
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