Ritchie Bros. Auctioneers Inc (NYSE:RBA) Expected to Post Earnings of $0.40 Per Share

Wall Street brokerages expect that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will post $0.40 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings. The lowest EPS estimate is $0.34 and the highest is $0.43. Ritchie Bros. Auctioneers reported earnings of $0.32 per share in the same quarter last year, which would suggest a positive year over year growth rate of 25%. The firm is expected to report its next earnings report on Thursday, February 27th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full-year earnings of $1.28 per share for the current year, with EPS estimates ranging from $1.20 to $1.35. For the next financial year, analysts forecast that the business will post earnings of $1.49 per share, with EPS estimates ranging from $1.35 to $1.67. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.55 million. Ritchie Bros. Auctioneers had a return on equity of 15.27% and a net margin of 10.08%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS.

RBA has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. OTR Global raised Ritchie Bros. Auctioneers to a “positive” rating in a research report on Friday, October 25th. ValuEngine cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. National Bank Financial cut Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.25.

NYSE RBA traded down $0.38 during midday trading on Tuesday, hitting $41.28. 1,072,627 shares of the company traded hands, compared to its average volume of 346,689. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.24 and a quick ratio of 1.12. The company has a market cap of $4.39 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.69. The company’s 50-day simple moving average is $39.84 and its 200-day simple moving average is $36.72. Ritchie Bros. Auctioneers has a 52 week low of $30.76 and a 52 week high of $42.97.

In other news, insider Todd Donald Wohler sold 2,428 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.80, for a total value of $96,634.40. Following the completion of the sale, the insider now owns 9,491 shares of the company’s stock, valued at approximately $377,741.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $39.33, for a total value of $89,633.07. Following the completion of the sale, the insider now directly owns 5,626 shares of the company’s stock, valued at approximately $221,270.58. The disclosure for this sale can be found here. Insiders sold a total of 8,709 shares of company stock valued at $344,944 in the last three months. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in Ritchie Bros. Auctioneers by 15.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,375,826 shares of the business services provider’s stock worth $453,895,000 after acquiring an additional 1,543,300 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Ritchie Bros. Auctioneers by 101.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock worth $153,000 after acquiring an additional 1,934 shares during the last quarter. GW&K Investment Management LLC raised its stake in Ritchie Bros. Auctioneers by 13.8% in the 3rd quarter. GW&K Investment Management LLC now owns 2,043,635 shares of the business services provider’s stock worth $81,541,000 after acquiring an additional 248,524 shares during the last quarter. Carillon Tower Advisers Inc. raised its stake in Ritchie Bros. Auctioneers by 2.5% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 2,685,399 shares of the business services provider’s stock worth $107,148,000 after acquiring an additional 64,511 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Ritchie Bros. Auctioneers by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,697,097 shares of the business services provider’s stock worth $147,510,000 after acquiring an additional 53,644 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.

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

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