Ritchie Bros. Auctioneers Inc (NYSE:RBA) Expected to Announce Quarterly Sales of $382.21 Million

Equities analysts expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to announce $382.21 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings, with estimates ranging from $363.29 million to $405.81 million. Ritchie Bros. Auctioneers posted sales of $355.97 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The business is scheduled to issue its next earnings results on Thursday, February 27th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.36 billion for the current financial year, with estimates ranging from $1.33 billion to $1.38 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.44 billion, with estimates ranging from $1.39 billion to $1.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Ritchie Bros. Auctioneers.

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

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Friday. Bank of America raised their price objective on Ritchie Bros. Auctioneers from $32.00 to $33.50 and gave the company an “underperform” rating in a report on Friday, August 9th. Finally, National Bank Financial cut Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $36.25.

In related news, insider Darren Jeffrey Watt sold 2,279 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction of $89,633.07. Following the completion of the transaction, the insider now owns 5,626 shares in the company, valued at $221,270.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Donald Wohler sold 2,000 shares of Ritchie Bros. Auctioneers stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $39.80, for a total value of $79,600.00. Following the transaction, the insider now owns 11,919 shares of the company’s stock, valued at approximately $474,376.20. 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 90 days. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of RBA. Massachusetts Financial Services Co. MA grew its holdings in Ritchie Bros. Auctioneers by 15.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,375,826 shares of the business services provider’s stock worth $453,895,000 after purchasing an additional 1,543,300 shares during the period. Fiera Capital Corp grew its holdings in Ritchie Bros. Auctioneers by 23.5% during the second quarter. Fiera Capital Corp now owns 2,984,675 shares of the business services provider’s stock worth $99,276,000 after purchasing an additional 568,680 shares during the period. Mondrian Investment Partners LTD grew its holdings in Ritchie Bros. Auctioneers by 18.6% during the third quarter. Mondrian Investment Partners LTD now owns 1,660,039 shares of the business services provider’s stock worth $87,667,000 after purchasing an additional 259,917 shares during the period. GW&K Investment Management LLC grew its holdings in Ritchie Bros. Auctioneers by 13.8% during the third quarter. GW&K Investment Management LLC now owns 2,043,635 shares of the business services provider’s stock worth $81,541,000 after purchasing an additional 248,524 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in Ritchie Bros. Auctioneers by 6.4% during the second quarter. Eagle Asset Management Inc. now owns 3,643,453 shares of the business services provider’s stock worth $121,025,000 after purchasing an additional 218,387 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Shares of NYSE RBA traded down $0.38 during mid-day trading on Thursday, hitting $41.28. The company had a trading volume of 1,072,627 shares, compared to its average volume of 346,689. The company has a market capitalization 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 firm has a 50-day simple moving average of $39.84 and a two-hundred day simple moving average of $36.72. The company has a current ratio of 1.24, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. Ritchie Bros. Auctioneers has a one year low of $30.76 and a one year high of $42.97.

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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