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Why is Rh (RH) Stock down?
We've noticed a 6.56% decline in Rh (RH) stock during the 2024-11-06 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
08 Dec, 2023:
Shares of RH (RH) dropped by 14.00% from $281.40 to $242.01 in the trading on Friday, December 8, 2023. The reason why RH is down today is due to the release of the company's disappointing third-quarter 2023 financial results.
- Earnings and Revenue Miss: RH reported an earnings per share of -42 cents, significantly below the expected 95 cents per share. Additionally, the company's revenue of $751.23 million fell short of the anticipated $756.74 million.
- Analyst Reactions: Telsey Advisory Group's Cristina Fernández maintained a Market Perform rating but lowered the price target from $325 to $285. She attributed RH's challenges to the tough housing market and a lack of new products and marketing investments. In addition, Morgan Stanley's Simeon Gutman reiterated an Equal Weight rating with a reduced price target of $290. He noted RH's lowered guidance and delayed revenue recovery. Moreover, KeyBanc Capital Markets' Bradley Thomas maintained a Sector Weight rating and cited hope in RH's expectation of improved demand trends in the first half of 2024.
08 Sep, 2023:
RH's shares fell down 15.63% today following its Q2 earnings results. In Q2, the firm beat earnings but cautioned about future challenges, leading to a 12% stock drop. They expect a tough luxury housing market in 2023, with Q3 sales below expectations.
https://www.fool.com/investing/2023/09/08/why-rh-stock-is-down-today/
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