Ritchie Bros. Auctioneers Incorporated (RBA) Issues Earnings Results
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) issued its quarterly earnings data on Monday. The business services provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01, MarketWatch Earnings reports. Ritchie Bros. Auctioneers had a return on equity of 15.19% and a net margin of 13.02%. The company had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.
Ritchie Bros. Auctioneers (RBA) traded up 9.432% during midday trading on Tuesday, hitting $29.875. The stock had a trading volume of 1,658,877 shares. The stock has a 50-day moving average price of $28.30 and a 200 day moving average price of $30.91. The firm has a market cap of $3.20 billion, a PE ratio of 43.934 and a beta of 0.55. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96.
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A number of brokerages have weighed in on RBA. Royal Bank Of Canada set a $41.00 price objective on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research note on Saturday, April 22nd. Raymond James Financial, Inc. reduced their price objective on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a research note on Tuesday, July 11th. BidaskClub upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. Finally, TD Securities reduced their price objective on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating for the company in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and an average price target of $33.75.
Ritchie Bros. Auctioneers Company Profile
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.
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