Brokers Offer Predictions for Ritchie Bros. Auctioneers Inc’s FY2019 Earnings (NYSE:RBA)

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Analysts at Northcoast Research decreased their FY2019 earnings estimates for shares of Ritchie Bros. Auctioneers in a research note issued on Monday, November 11th. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $1.20 per share for the year, down from their previous forecast of $1.23. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2019 earnings at $0.32 EPS and FY2020 earnings at $1.45 EPS.

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 for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 15.88% and a net margin of 9.90%. The firm had revenue of $289.80 million for the quarter, compared to the consensus estimate of $289.55 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue was up 18.1% compared to the same quarter last year.

RBA has been the topic of several other research reports. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. National Bank Financial downgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $35.50 to $35.00 in a research note on Friday. Raymond James set a $43.50 price objective on Ritchie Bros. Auctioneers and gave the company a “market perform” rating in a research note on Monday. Royal Bank of Canada upped their price objective on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, OTR Global upgraded Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and an average price target of $37.38.

Ritchie Bros. Auctioneers stock opened at $41.90 on Tuesday. Ritchie Bros. Auctioneers has a 12 month low of $30.76 and a 12 month high of $42.97. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $39.96 and its 200 day simple moving average is $36.78. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 4.60 and a beta of 0.69.

A number of large investors have recently modified their holdings of RBA. Diversified Trust Co lifted its position in shares of Ritchie Bros. Auctioneers by 9.9% in the 2nd quarter. Diversified Trust Co now owns 18,840 shares of the business services provider’s stock worth $626,000 after purchasing an additional 1,690 shares during the period. OLD National Bancorp IN raised its stake in shares of Ritchie Bros. Auctioneers by 47.9% during the 2nd quarter. OLD National Bancorp IN now owns 13,577 shares of the business services provider’s stock worth $451,000 after acquiring an additional 4,397 shares in the last quarter. NEXT Financial Group Inc increased its stake in Ritchie Bros. Auctioneers by 9.4% during the 2nd quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 307 shares in the last quarter. FDx Advisors Inc. increased its stake in Ritchie Bros. Auctioneers by 17.7% during the 2nd quarter. FDx Advisors Inc. now owns 29,197 shares of the business services provider’s stock valued at $970,000 after purchasing an additional 4,392 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in Ritchie Bros. Auctioneers by 233.3% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 3,000 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 91.67% of the company’s stock.

In other Ritchie Bros. Auctioneers news, insider Darren Jeffrey Watt sold 2,279 shares of Ritchie Bros. Auctioneers stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total value of $89,633.07. Following the sale, the insider now directly owns 5,626 shares in the company, valued at approximately $221,270.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Todd Donald Wohler sold 2,000 shares of Ritchie Bros. Auctioneers stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $39.80, for a total transaction of $79,600.00. Following the completion of the sale, the insider now owns 11,919 shares in the company, valued at $474,376.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,707 shares of company stock valued at $344,867. Company insiders own 1.60% 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 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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