Arhaus (NASDAQ:ARHS) Releases Earnings Results, Hits Estimates

Arhaus (NASDAQ:ARHS) posted its quarterly earnings results on Thursday. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16, reports. Arhaus had a net margin of 9.73% and a return on equity of 44.88%. The business had revenue of $344.01 million for the quarter, compared to the consensus estimate of $336.73 million. During the same period in the prior year, the business posted $0.34 earnings per share. Arhaus updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Arhaus Stock Up 3.7 %

Shares of ARHS opened at $14.90 on Friday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 16.74 and a beta of 2.39. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. Arhaus has a 12 month low of $6.75 and a 12 month high of $15.59. The company has a 50-day moving average price of $12.19 and a two-hundred day moving average price of $10.43.

Arhaus Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, March 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARHS. Vanguard Group Inc. raised its stake in shares of Arhaus by 28.3% in the fourth quarter. Vanguard Group Inc. now owns 3,923,377 shares of the company’s stock valued at $46,492,000 after acquiring an additional 864,267 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Arhaus by 50.8% in the first quarter. Bank of America Corp DE now owns 885,880 shares of the company’s stock valued at $7,344,000 after purchasing an additional 298,617 shares in the last quarter. Meros Investment Management LP increased its holdings in shares of Arhaus by 16.2% in the fourth quarter. Meros Investment Management LP now owns 626,827 shares of the company’s stock valued at $7,428,000 after purchasing an additional 87,231 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Arhaus by 985.9% in the second quarter. Millennium Management LLC now owns 622,610 shares of the company’s stock valued at $2,802,000 after purchasing an additional 565,276 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of Arhaus in the fourth quarter valued at approximately $5,976,000. Institutional investors own 23.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARHS. Bank of America upped their price target on shares of Arhaus from $13.50 to $14.50 and gave the stock a “buy” rating in a research note on Tuesday. Telsey Advisory Group increased their target price on shares of Arhaus from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

About Arhaus

Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market. It provides merchandise assortments across various categories, including furniture, lighting, textiles, décor, and outdoor. The company's furniture products comprise bedroom, dining room, living room, and home office furnishings, which includes sofas, dining tables and chairs, accent chairs, console and coffee tables, beds, headboards, dressers, desks, bookcases, modular storage, etc.; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.