Brokerages forecast that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will post sales of $296.33 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings, with the lowest sales estimate coming in at $291.96 million and the highest estimate coming in at $301.85 million. Ritchie Bros. Auctioneers reported sales of $289.80 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The firm is scheduled to report its next earnings results on Thursday, November 5th.
According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.30 billion to $1.33 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.39 billion, with estimates ranging from $1.38 billion to $1.41 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.18. Ritchie Bros. Auctioneers had a return on equity of 17.77% and a net margin of 11.89%. The firm had revenue of $389.05 million for the quarter, compared to analysts’ expectations of $344.20 million. During the same quarter last year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.
A number of research analysts recently weighed in on the company. TD Securities lifted their target price on Ritchie Bros. Auctioneers from $56.00 to $65.00 and gave the company a “hold” rating in a report on Friday. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Saturday, August 8th. National Bank Financial boosted their price objective on Ritchie Bros. Auctioneers from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Monday, August 10th. Barrington Research cut Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research note on Friday, August 21st. Finally, Raymond James boosted their price objective on Ritchie Bros. Auctioneers from $44.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.50.
Ritchie Bros. Auctioneers stock traded up $0.65 during midday trading on Thursday, reaching $64.11. The stock had a trading volume of 373,978 shares, compared to its average volume of 539,362. Ritchie Bros. Auctioneers has a twelve month low of $25.92 and a twelve month high of $65.98. The stock has a market capitalization of $7.01 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 5.49 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.25. The stock’s 50-day simple moving average is $59.35 and its 200 day simple moving average is $47.81.
In related news, CFO Sharon Ruth Driscoll sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $61.95, for a total value of $929,250.00. Following the completion of the sale, the chief financial officer now directly owns 6,057 shares of the company’s stock, valued at $375,231.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James J. Jeter sold 4,234 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $62.03, for a total value of $262,635.02. Following the completion of the sale, the insider now directly owns 1,514 shares of the company’s stock, valued at $93,913.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,283 shares of company stock worth $1,756,789. Corporate insiders own 0.83% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $43,000. Macquarie Group Ltd. bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $62,000. Gulf International Bank UK Ltd bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $101,000. Stevard LLC bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $202,000. Finally, D.A. Davidson & CO. bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $204,000. 84.43% 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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