Brokerages Anticipate Ritchie Bros. Auctioneers Inc (RBA) Will Post Quarterly Sales of $283.78 Million

Equities research analysts forecast that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will post sales of $283.78 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $265.00 million and the highest is $312.87 million. Ritchie Bros. Auctioneers reported sales of $260.18 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The company is expected to report its next quarterly earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.26 billion for the current year, with estimates ranging from $1.18 billion to $1.32 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.34 billion, with estimates ranging from $1.27 billion to $1.44 billion. 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 released its quarterly earnings results on Thursday, February 28th. The business services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Ritchie Bros. Auctioneers had a return on equity of 14.68% and a net margin of 10.38%. The firm had revenue of $355.97 million for the quarter, compared to analyst estimates of $308.52 million.



RBA has been the subject of a number of recent research reports. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Saturday, January 12th. ValuEngine raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, March 7th. Raymond James reduced their price target on Ritchie Bros. Auctioneers from $38.00 to $34.50 and set a “market perform” rating for the company in a research report on Monday, March 4th. Finally, OTR Global raised Ritchie Bros. Auctioneers to a “positive” rating in a research report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and a consensus price target of $37.06.

NYSE:RBA opened at $34.10 on Tuesday. Ritchie Bros. Auctioneers has a twelve month low of $30.76 and a twelve month high of $38.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.37 and a quick ratio of 1.11. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.04 and a beta of 0.80.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Ritchie Bros. Auctioneers by 55.5% in the 3rd quarter. Wells Fargo & Company MN now owns 54,988 shares of the business services provider’s stock valued at $1,986,000 after acquiring an additional 19,624 shares during the period. JPMorgan Chase & Co. raised its stake in Ritchie Bros. Auctioneers by 1,900.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 119,895 shares of the business services provider’s stock valued at $4,332,000 after acquiring an additional 113,902 shares during the period. Bank of New York Mellon Corp raised its stake in Ritchie Bros. Auctioneers by 8.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 40,967 shares of the business services provider’s stock valued at $1,480,000 after acquiring an additional 3,119 shares during the period. Dimensional Fund Advisors LP raised its stake in Ritchie Bros. Auctioneers by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 31,951 shares of the business services provider’s stock valued at $1,154,000 after acquiring an additional 2,900 shares during the period. Finally, Jane Street Group LLC bought a new stake in Ritchie Bros. Auctioneers in the 3rd quarter valued at $458,000. Institutional investors own 92.74% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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