Analysts Expect Ritchie Bros. Auctioneers Incorporated (RBA) Will Post Quarterly Sales of $143.62 Million
Equities research analysts expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) to announce $143.62 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $137.63 million and the highest is $151.00 million. Ritchie Bros. Auctioneers posted sales of $128.88 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $143.62 million for the current fiscal year, with estimates ranging from $596.31 million to $615.00 million. For the next financial year, analysts forecast that the business will post sales of $682.12 million per share, with estimates ranging from $659.66 million to $706.00 million. Zacks Investment Research’s 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 posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year.
A number of analysts have recently issued reports on RBA shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a report on Monday, May 15th. BidaskClub raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. National Bank Financial reaffirmed a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, CIBC cut shares of Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective on the stock. in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus target price of $32.80.
Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.53% during mid-day trading on Monday, hitting $29.79. 158,426 shares of the stock traded hands. Ritchie Bros. Auctioneers has a 1-year low of $26.68 and a 1-year high of $39.96. The company’s 50 day moving average price is $28.41 and its 200-day moving average price is $30.41. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 64.48 and a beta of 0.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.
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In other news, CFO Sharon Ruth Driscoll bought 1,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the purchase, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. World Asset Management Inc raised its stake in Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after acquiring an additional 43 shares during the period. Comerica Bank raised its stake 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 worth $221,000 after acquiring an additional 44 shares during the period. Forward Management LLC raised its stake in Ritchie Bros. Auctioneers by 3.5% during the 1st quarter. Forward Management LLC now owns 5,528 shares of the business services provider’s stock worth $182,000 after acquiring an additional 188 shares during the period. First Bank & Trust raised its stake in Ritchie Bros. Auctioneers by 3.8% during the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after acquiring an additional 196 shares during the period. Finally, Suntrust Banks Inc. raised its stake in Ritchie Bros. Auctioneers by 2.3% during the 1st quarter. Suntrust Banks Inc. now owns 11,159 shares of the business services provider’s stock worth $367,000 after acquiring an additional 256 shares during the period. Institutional investors own 96.14% of the company’s stock.
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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