Wall Street analysts expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to post sales of $382.21 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $363.29 million and the highest is $405.81 million. Ritchie Bros. Auctioneers reported sales of $355.97 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 27th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.36 billion for the current year, with estimates ranging from $1.33 billion to $1.38 billion. For the next financial year, analysts anticipate that the business will report sales of $1.44 billion, with estimates ranging from $1.39 billion to $1.54 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The firm had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter last year, the company posted $0.18 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis.
Several equities analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a report on Monday, August 12th. Raymond James reaffirmed a “market perform” rating and set a $36.50 target price on shares of Ritchie Bros. Auctioneers in a report on Monday, October 21st. OTR Global raised shares of Ritchie Bros. Auctioneers to a “positive” rating in a report on Friday, October 25th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Friday. Finally, National Bank Financial lowered shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating in a report on Friday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.25.
Shares of RBA stock traded down $0.38 on Thursday, hitting $41.28. 1,072,627 shares of the company’s stock traded hands, compared to its average volume of 346,689. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.24. Ritchie Bros. Auctioneers has a one year low of $30.76 and a one year high of $42.97. The company’s fifty day simple moving average is $39.84 and its 200 day simple moving average is $36.72. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 4.67 and a beta of 0.69.
In other Ritchie Bros. Auctioneers news, insider Todd Donald Wohler sold 2,428 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.80, for a total value of $96,634.40. Following the sale, the insider now owns 9,491 shares of the company’s stock, valued at approximately $377,741.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction of $89,633.07. Following the completion of the sale, the insider now directly owns 5,626 shares in the company, valued at approximately $221,270.58. The disclosure for this sale can be found here. In the last three months, insiders sold 8,709 shares of company stock worth $344,944. Insiders own 1.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Quest Capital Management Inc. ADV bought a new stake in Ritchie Bros. Auctioneers in the 3rd quarter worth $39,000. Arcadia Investment Management Corp MI grew its holdings in Ritchie Bros. Auctioneers by 233.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 3,000 shares of the business services provider’s stock worth $100,000 after acquiring an additional 2,100 shares during the last quarter. NEXT Financial Group Inc grew its holdings in Ritchie Bros. Auctioneers by 9.4% in the 2nd quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock worth $118,000 after acquiring an additional 307 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Ritchie Bros. Auctioneers by 101.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock worth $153,000 after acquiring an additional 1,934 shares during the last quarter. Finally, Hengehold Capital Management LLC bought a new stake in Ritchie Bros. Auctioneers in the 3rd quarter worth $212,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.
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 live on site 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, as well as construction and heavy machinery.
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