Equities research analysts forecast that Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) will post sales of $194.55 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $166.00 million and the highest is $222.90 million. Ritchie Bros. Auctioneers posted sales of $166.19 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.1%. The company is expected to issue its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $702.39 million for the current year, with estimates ranging from $675.80 million to $773.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $742.18 million per share, with estimates ranging from $707.00 million to $782.34 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Ritchie Bros. Auctioneers.
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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, May 10th. The business services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Ritchie Bros. Auctioneers had a return on equity of 12.50% and a net margin of 10.96%. The firm had revenue of $169.80 million for the quarter, compared to the consensus estimate of $153.56 million. During the same period in the prior year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year.
Several research firms recently weighed in on RBA. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Sunday. National Bank Financial upped their price objective on shares of Ritchie Bros. Auctioneers from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, March 1st. Royal Bank of Canada upped their price objective on shares of Ritchie Bros. Auctioneers from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, Raymond James upped their price objective on shares of Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.40.
A number of hedge funds and other institutional investors have recently modified their holdings of RBA. Armstrong Henry H Associates Inc. acquired a new position in Ritchie Bros. Auctioneers during the first quarter worth about $203,000. Comerica Bank acquired a new position in shares of Ritchie Bros. Auctioneers in the fourth quarter valued at approximately $217,000. Atria Investments LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the first quarter valued at approximately $244,000. BB&T Securities LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the first quarter valued at approximately $318,000. Finally, Jane Street Group LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the fourth quarter valued at approximately $323,000.
RBA traded down $0.06 on Thursday, hitting $32.96. 498,100 shares of the stock were exchanged, compared to its average volume of 603,081. Ritchie Bros. Auctioneers has a 12 month low of $32.67 and a 12 month high of $33.26. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 40.77, a P/E/G ratio of 3.30 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.06%. The ex-dividend date is Tuesday, May 29th. Ritchie Bros. Auctioneers’s payout ratio is 83.95%.
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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