Ritchie Bros. Auctioneers Inc (NYSE:RBA) Expected to Announce Quarterly Sales of $309.12 Million

Wall Street brokerages expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to announce $309.12 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings, with the highest sales estimate coming in at $331.28 million and the lowest estimate coming in at $293.17 million. Ritchie Bros. Auctioneers posted sales of $303.43 million in the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The firm is scheduled to report its next earnings report on Thursday, May 14th.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.36 billion for the current fiscal year, with estimates ranging from $1.28 billion to $1.47 billion. For the next financial year, analysts forecast that the firm will report sales of $1.44 billion, with estimates ranging from $1.36 billion to $1.59 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, February 27th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $332.20 million for the quarter, compared to the consensus estimate of $369.82 million. Ritchie Bros. Auctioneers had a return on equity of 17.03% and a net margin of 11.30%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS.

RBA has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, February 27th. Scotiabank upgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating in a report on Monday, March 2nd. Raymond James upgraded Ritchie Bros. Auctioneers from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Tuesday. Barrington Research upgraded Ritchie Bros. Auctioneers from a “market perform” rating to an “outperform” rating and set a $42.50 target price on the stock in a report on Friday, March 20th. They noted that the move was a valuation call. Finally, TD Securities raised their target price on Ritchie Bros. Auctioneers from $31.00 to $32.00 and gave the company a “reduce” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and an average target price of $38.72.

Shares of NYSE:RBA traded up $2.07 during mid-day trading on Monday, hitting $33.19. 435,501 shares of the company traded hands, compared to its average volume of 549,247. The firm has a market cap of $3.40 billion, a P/E ratio of 24.40, a PEG ratio of 3.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.36. Ritchie Bros. Auctioneers has a 52-week low of $25.92 and a 52-week high of $45.16. The firm’s 50 day simple moving average is $38.68 and its 200 day simple moving average is $40.87.

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 14th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.41%. Ritchie Bros. Auctioneers’s payout ratio is currently 60.15%.

In other Ritchie Bros. Auctioneers news, insider Todd Donald Wohler sold 16,961 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $40.49, for a total transaction of $686,750.89. Following the sale, the insider now directly owns 16,961 shares in the company, valued at approximately $686,750.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. AJO LP acquired a new position in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $3,098,000. Barclays PLC grew its position in shares of Ritchie Bros. Auctioneers by 121.7% in the 3rd quarter. Barclays PLC now owns 12,164 shares of the business services provider’s stock worth $486,000 after acquiring an additional 6,678 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 3rd quarter worth approximately $1,146,000. Man Group plc grew its position in shares of Ritchie Bros. Auctioneers by 65.4% in the 3rd quarter. Man Group plc now owns 189,833 shares of the business services provider’s stock worth $7,574,000 after acquiring an additional 75,066 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Ritchie Bros. Auctioneers by 178.8% in the 4th quarter. Acadian Asset Management LLC now owns 329,581 shares of the business services provider’s stock worth $14,156,000 after acquiring an additional 211,352 shares in the last quarter. Institutional investors own 91.21% 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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