Richelieu Hardware Ltd. (TSE:RCH) Plans $0.16 Quarterly Dividend

Key Points

• Richelieu Hardware announced a quarterly dividend of C$0.1566 per share, with a dividend yield of about 1.8%. The ex-dividend date is July 23, and shareholders of record on August 7 will receive the payment.
• The stock was trading down 1.8% at C$35.64, below both its 50-day and 200-day moving averages. It has ranged from C$32.54 to C$45.03 over the past 52 weeks.
• Recent analyst updates were mixed but cautious, with National Bank Financial and CIBC both cutting price targets. The consensus rating remains Hold, with a consensus target price of C$38.50.

Richelieu Hardware Ltd. (TSE:RCH - Get Free Report) announced a quarterly dividend on Thursday, July 23rd, TickerTech Dividends reports. Stockholders of record on Friday, August 7th will be given a dividend of 0.1566 per share on Friday, August 7th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 23rd.

Richelieu Hardware Trading Down 1.8%

TSE RCH opened at C$35.64 on Tuesday. The company's fifty day simple moving average is C$38.92 and its 200-day simple moving average is C$40.53. Richelieu Hardware has a 52 week low of C$32.54 and a 52 week high of C$45.03. The company has a current ratio of 3.04, a quick ratio of 0.71 and a debt-to-equity ratio of 31.32. The stock has a market cap of C$1.95 billion, a P/E ratio of 22.70, a PEG ratio of 0.77 and a beta of 0.93.

Richelieu Hardware (TSE:RCH - Get Free Report) last released its quarterly earnings results on Thursday, July 9th. The company reported C$0.42 earnings per share for the quarter. The business had revenue of C$532.05 million during the quarter. Richelieu Hardware had a net margin of 4.34% and a return on equity of 9.04%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RCH shares. National Bank Financial cut their price target on Richelieu Hardware from C$41.00 to C$38.00 and set a "sector perform" rating on the stock in a research note on Monday, July 13th. Canadian Imperial Bank of Commerce lowered their price objective on Richelieu Hardware from C$42.00 to C$39.00 in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Richelieu Hardware currently has a consensus rating of "Hold" and a consensus target price of C$38.50.

About Richelieu Hardware

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Richelieu's products include furniture, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm primarily serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers, and renovation superstores.

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