RH Shares Up 8% on Q2 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/RH'>RH (NYSE:RH) </a>shares were trading more than 8% higher today following the company’s reported Q2 results, with EPS of $8.48, beating the consensus estimate of $6.58. Revenue came in at 989 million, above the consensus estimate of $957, representing a 39% year-over-year growth. </p>
<p>Analysts at Wedbush raised their piece target on the company’s shares to $760 from $720 following the quarterly results.</p>
<p>According to the analysts, the company flowed through more than the beat to 2021 guidance on both sales and margins. The company’s confidence stems from demand growth in Q3-to-date on a two-year basis accelerating from Q2, the company’s expectations for a strong housing market particularly for larger luxury homes in suburbs and vacation areas—to continue to drive demand, and an improving trend in backorder create rates.</p>
<p>According to the brokerage, the company continues to push forward with European expansion for 2022, and sees the U.K. market contributing a very solid $50-$250m in sales in the first year of operation based on brand recognition among designers and the affluent, as well as its marketing plans. The analysts continue to see a very compelling opportunity in Europe, but execution will be key to realizing the company’s goals.</p>

NYSE:RH