Brokerages Expect Ritchie Bros. Auctioneers Incorporated (RBA) Will Announce Quarterly Sales of $139.42 Million
Brokerages forecast that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will post sales of $139.42 million for the current quarter, Zacks reports. Seven analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings, with estimates ranging from $132.23 million to $146.24 million. Ritchie Bros. Auctioneers reported sales of $128.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $139.42 million for the current year, with estimates ranging from $577.23 million to $601.00 million. For the next financial year, analysts expect that the company will report sales of $669.22 million per share, with estimates ranging from $646.96 million to $701.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The business had revenue of $166.20 million during the quarter, compared to analyst estimates of $161.85 million. During the same period in the prior year, the company earned $0.37 earnings per share. Ritchie Bros. Auctioneers’s revenue was up 4.7% compared to the same quarter last year.
Several research firms have commented on RBA. Scotiabank lowered their target price on shares of Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, July 10th. BidaskClub cut shares of Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Raymond James Financial, Inc. lowered their target price on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating for the company in a report on Tuesday. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TD Securities lowered their target price on shares of Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.67.
In related news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the acquisition, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $28,590. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RBA. Comerica Bank increased its holdings in Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 44 shares in the last quarter. Sei Investments Co. increased its holdings in Ritchie Bros. Auctioneers by 5,660.4% during the 1st quarter. Sei Investments Co. now owns 32,604 shares of the business services provider’s stock valued at $1,073,000 after acquiring an additional 32,038 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Ritchie Bros. Auctioneers by 16.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 53,066 shares of the business services provider’s stock valued at $1,746,000 after acquiring an additional 7,406 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Ritchie Bros. Auctioneers by 178.8% during the 1st quarter. Alliancebernstein L.P. now owns 33,747 shares of the business services provider’s stock valued at $1,110,000 after acquiring an additional 21,644 shares in the last quarter. Finally, FMR LLC purchased a new position in Ritchie Bros. Auctioneers during the 1st quarter valued at about $2,952,000. Institutional investors and hedge funds own 96.01% of the company’s stock.
Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded up 0.36% during midday trading on Thursday, hitting $28.17. The company had a trading volume of 730,426 shares. Ritchie Bros. Auctioneers has a 1-year low of $26.68 and a 1-year high of $39.96. The stock has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.06. The firm has a market capitalization of $3.02 billion, a P/E ratio of 61.37 and a beta of 0.57.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. Ritchie Bros. Auctioneers’s payout ratio is currently 144.68%.
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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.
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