Wall Street brokerages predict that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will announce $144.37 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The highest sales estimate is $151.00 million and the lowest is $137.63 million. Ritchie Bros. Auctioneers posted sales of $128.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The firm is scheduled to report its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $144.37 million for the current fiscal year, with estimates ranging from $596.31 million to $615.00 million. For the next year, analysts anticipate that the firm will report sales of $682.12 million per share, with estimates ranging from $659.66 million to $706.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS.
A number of research analysts have recently commented on the company. TD Securities reiterated a “sell” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, May 9th. BidaskClub downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada set a $40.00 price target on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 14th. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.42.
Several large investors have recently made changes to their positions in RBA. Lloyds Banking Group plc increased its stake in shares of Ritchie Bros. Auctioneers by 59.1% in the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after buying an additional 1,656 shares in the last quarter. First Bank & Trust increased its stake in shares of Ritchie Bros. Auctioneers by 3.8% in the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after buying an additional 196 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth approximately $176,000. Forward Management LLC increased its stake in shares of Ritchie Bros. Auctioneers by 11.0% in the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after buying an additional 609 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after buying an additional 43 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.
Shares of Ritchie Bros. Auctioneers (RBA) opened at 28.75 on Thursday. The company has a market capitalization of $3.08 billion, a P/E ratio of 62.23 and a beta of 0.55. Ritchie Bros. Auctioneers has a 12 month low of $26.68 and a 12 month high of $39.96. The company has a 50-day moving average price of $28.13 and a 200-day moving average price of $30.69.
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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.
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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