Wall Street brokerages predict that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will post earnings per share (EPS) of $0.16 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with estimates ranging from $0.12 to $0.21. Ritchie Bros. Auctioneers reported earnings of $0.09 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 77.8%. The firm is scheduled to announce its next earnings report on Thursday, November 8th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full year earnings of $1.10 per share for the current year, with EPS estimates ranging from $1.00 to $1.15. For the next financial year, analysts forecast that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.25 to $1.50. Zacks Investment Research’s EPS calculations are an 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 posted its quarterly earnings data on Thursday, August 9th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The company had revenue of $206.80 million during the quarter, compared to the consensus estimate of $225.52 million. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 24.4% compared to the same quarter last year.
Several analysts have weighed in on RBA shares. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Saturday, May 19th. Howard Weil downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, June 27th. Finally, Scotiabank downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.00.
In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total value of $506,297.60. Following the transaction, the senior vice president now owns 11,278 shares in the company, valued at $431,270.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Cutler Group LP increased its position in shares of Ritchie Bros. Auctioneers by 125.6% in the second quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock valued at $159,000 after acquiring an additional 22,971 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Ritchie Bros. Auctioneers in the second quarter valued at about $207,000. We Are One Seven LLC increased its position in shares of Ritchie Bros. Auctioneers by 533.7% in the first quarter. We Are One Seven LLC now owns 6,628 shares of the business services provider’s stock valued at $209,000 after acquiring an additional 5,582 shares during the period. Atria Investments LLC purchased a new position in shares of Ritchie Bros. Auctioneers in the first quarter valued at about $244,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Ritchie Bros. Auctioneers by 197.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 5,336 shares during the period. Hedge funds and other institutional investors own 96.96% of the company’s stock.
Shares of NYSE RBA traded up $0.15 during mid-day trading on Friday, reaching $37.85. 457,300 shares of the company were exchanged, compared to its average volume of 481,893. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.26. The company has a market capitalization of $4.03 billion, a P/E ratio of 46.72, a P/E/G ratio of 2.61 and a beta of 0.71. Ritchie Bros. Auctioneers has a 52 week low of $24.08 and a 52 week high of $38.77.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 29th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, August 28th. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.90%. Ritchie Bros. Auctioneers’s payout ratio is currently 88.89%.
About Ritchie Bros. Auctioneers
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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