Wall Street analysts expect that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will post $223.82 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $179.15 million and the highest is $251.13 million. Ritchie Bros. Auctioneers posted sales of $141.05 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 58.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, November 8th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.07 billion for the current year, with estimates ranging from $957.45 million to $1.12 billion. For the next year, analysts forecast that the firm will report sales of $1.20 billion, with estimates ranging from $1.17 billion to $1.22 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, August 9th. The business services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same period in the prior year, the company earned $0.33 earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year.
RBA has been the subject of a number of research reports. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, September 28th. National Bank Financial upped their target price on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 13th. Macquarie upped their target price on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Raymond James upped their target price on shares of Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, August 13th. Finally, Scotiabank set a $39.00 target price on shares of Ritchie Bros. Auctioneers and gave the company a “hold” rating in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.11.
In other news, SVP Kieran Colquhoun Holm sold 13,240 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total transaction of $506,297.60. Following the transaction, the senior vice president now directly owns 11,278 shares in the company, valued at $431,270.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of RBA. Wells Fargo & Company MN increased its stake in shares of Ritchie Bros. Auctioneers by 75.8% during the first quarter. Wells Fargo & Company MN now owns 35,665 shares of the business services provider’s stock worth $1,122,000 after acquiring an additional 15,383 shares during the period. Northern Trust Corp grew its position in Ritchie Bros. Auctioneers by 2.1% during the first quarter. Northern Trust Corp now owns 253,056 shares of the business services provider’s stock worth $7,964,000 after buying an additional 5,317 shares during the period. UBS Group AG grew its position in Ritchie Bros. Auctioneers by 20.5% during the first quarter. UBS Group AG now owns 48,585 shares of the business services provider’s stock worth $1,529,000 after buying an additional 8,281 shares during the period. LPL Financial LLC grew its position in Ritchie Bros. Auctioneers by 43.5% during the first quarter. LPL Financial LLC now owns 15,621 shares of the business services provider’s stock worth $492,000 after buying an additional 4,736 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in Ritchie Bros. Auctioneers during the first quarter worth about $287,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
Shares of NYSE:RBA opened at $33.45 on Tuesday. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $38.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market capitalization of $3.64 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 2.35 and a beta of 0.78.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.
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