Analysts Expect Ritchie Bros. Auctioneers Incorporated (RBA) Will Announce Quarterly Sales of $167.46 Million
Equities research analysts expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) to report sales of $167.46 million for the current quarter, Zacks reports. Seven analysts have made estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $157.55 million and the highest is $175.00 million. Ritchie Bros. Auctioneers reported sales of $158.81 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The business is expected to issue its next earnings results on Monday, August 14th.
According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $167.46 million for the current year, with estimates ranging from $613.00 million to $653.69 million. For the next fiscal year, analysts forecast that the company will report sales of $738.07 million per share, with estimates ranging from $715.00 million to $759.40 million. Zacks’ sales averages are an average based on a survey of analysts that follow Ritchie Bros. Auctioneers.
Several research firms have recently commented on RBA. TD Securities restated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, April 11th. CIBC restated an “outperform” rating and set a $36.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Thursday, April 13th. Jefferies Group LLC restated a “hold” rating and set a $29.00 price target (down from $32.00) on shares of Ritchie Bros. Auctioneers in a research report on Friday, April 14th. Royal Bank Of Canada set a $41.00 price target on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research report on Saturday, April 22nd. Finally, William Blair restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, April 24th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $35.96.
TRADEMARK VIOLATION NOTICE: “Analysts Expect Ritchie Bros. Auctioneers Incorporated (RBA) Will Announce Quarterly Sales of $167.46 Million” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/07/06/analysts-expect-ritchie-bros-auctioneers-incorporated-rba-will-announce-quarterly-sales-of-167-46-million.html.
Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in shares of Ritchie Bros. Auctioneers by 2,029.1% in the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock valued at $15,808,000 after buying an additional 457,917 shares during the last quarter. Comerica Bank boosted its stake in shares of Ritchie Bros. Auctioneers by 10.9% in the fourth quarter. Comerica Bank now owns 6,693 shares of the business services provider’s stock valued at $220,000 after buying an additional 659 shares during the last quarter. RMB Capital Management LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 52.1% in the fourth quarter. RMB Capital Management LLC now owns 319,194 shares of the business services provider’s stock valued at $10,853,000 after buying an additional 109,336 shares during the last quarter. CGOV Asset Management boosted its stake in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Ritchie Bros. Auctioneers during the fourth quarter valued at about $53,619,000. Institutional investors and hedge funds own 95.12% of the company’s stock.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.62% during midday trading on Thursday, reaching $29.08. The company’s stock had a trading volume of 134,606 shares. The company has a market capitalization of $3.11 billion, a P/E ratio of 42.76 and a beta of 0.55. Ritchie Bros. Auctioneers has a one year low of $27.13 and a one year high of $39.96. The stock’s 50-day moving average is $30.60 and its 200-day moving average is $32.21.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, May 19th. Ritchie Bros. Auctioneers’s payout ratio is currently 100.00%.
About Ritchie Bros. Auctioneers
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ritchie Bros. Auctioneers Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.