Zacks: Brokerages Anticipate Ritchie Bros. Auctioneers Inc (RBA) to Post $0.19 Earnings Per Share
Wall Street brokerages forecast that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will announce earnings per share (EPS) of $0.19 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.25. Ritchie Bros. Auctioneers reported earnings of $0.30 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 36.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full-year earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.85 to $0.90. For the next fiscal year, analysts anticipate that the business will post earnings of $0.97 per share, with EPS estimates ranging from $0.85 to $1.01. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The business had revenue of $141.05 million for the quarter, compared to analyst estimates of $139.96 million. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis.
Several equities research analysts recently commented on the company. Oppenheimer reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, November 13th. TD Securities decreased their target price on Ritchie Bros. Auctioneers from $23.00 to $22.00 and set a “reduce” rating for the company in a research note on Monday, November 13th. Raymond James Financial decreased their target price on Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, National Bank Financial raised Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $30.50 in a research note on Monday, November 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.45.
Ritchie Bros. Auctioneers (NYSE RBA) traded down $0.51 during midday trading on Friday, reaching $29.23. The company had a trading volume of 374,926 shares, compared to its average volume of 664,389. Ritchie Bros. Auctioneers has a fifty-two week low of $24.08 and a fifty-two week high of $35.21. The firm has a market capitalization of $3,167.31, a PE ratio of 47.92, a P/E/G ratio of 3.67 and a beta of 0.64. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 111.48%.
In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $28.68, for a total value of $154,872.00. Following the completion of the sale, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.
Several hedge funds have recently bought and sold shares of RBA. Dimensional Fund Advisors LP lifted its holdings in shares of Ritchie Bros. Auctioneers by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 103,194 shares of the business services provider’s stock valued at $3,395,000 after purchasing an additional 1,515 shares in the last quarter. Legal & General Group Plc lifted its holdings in Ritchie Bros. Auctioneers by 32.7% during the second quarter. Legal & General Group Plc now owns 14,970 shares of the business services provider’s stock worth $430,000 after acquiring an additional 3,693 shares during the period. Tobam lifted its holdings in Ritchie Bros. Auctioneers by 9.1% during the second quarter. Tobam now owns 126,300 shares of the business services provider’s stock worth $3,624,000 after acquiring an additional 10,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ritchie Bros. Auctioneers by 10.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,492 shares of the business services provider’s stock worth $244,000 after acquiring an additional 836 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Ritchie Bros. Auctioneers during the second quarter worth $6,725,000. Institutional investors own 96.61% of the company’s stock.
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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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