Zacks: Brokerages Expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) to Post $0.20 Earnings Per Share

Brokerages expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to report earnings per share of $0.20 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.13. Ritchie Bros. Auctioneers posted earnings of $0.17 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The business is expected to issue its next quarterly earnings results on Thursday, May 14th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full-year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.18 to $1.60. For the next year, analysts expect that the firm will post earnings of $1.65 per share, with EPS estimates ranging from $1.47 to $1.90. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $369.82 million. Ritchie Bros. Auctioneers had a net margin of 11.30% and a return on equity of 17.03%. Ritchie Bros. Auctioneers’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS.

A number of analysts recently commented on the stock. TD Securities lifted their target price on shares of Ritchie Bros. Auctioneers from $31.00 to $32.00 and gave the stock a “reduce” rating in a research note on Monday, March 2nd. CIBC reiterated a “hold” rating and issued a $44.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Friday, February 28th. Scotiabank upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Saturday, February 29th. Finally, National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating and lowered their target price for the stock from $37.00 to $35.00 in a research note on Monday, March 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.72.

RBA stock traded up $2.07 during trading on Friday, reaching $33.19. The company had a trading volume of 435,501 shares, compared to its average volume of 549,247. The firm has a 50-day simple moving average of $38.68 and a 200-day simple moving average of $40.87. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth 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 twelve month low of $25.92 and a twelve month high of $45.16.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, February 13th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 60.15%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of RBA. Norges Bank purchased a new position in Ritchie Bros. Auctioneers during the 4th quarter worth approximately $66,197,000. Man Group plc increased its holdings in shares of Ritchie Bros. Auctioneers by 297.2% during the 4th quarter. Man Group plc now owns 754,066 shares of the business services provider’s stock valued at $32,390,000 after purchasing an additional 564,233 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ritchie Bros. Auctioneers by 70.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,288,897 shares of the business services provider’s stock valued at $55,358,000 after purchasing an additional 530,997 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Ritchie Bros. Auctioneers by 35.8% during the 4th quarter. Bank of Montreal Can now owns 1,984,990 shares of the business services provider’s stock valued at $85,255,000 after purchasing an additional 523,749 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ritchie Bros. Auctioneers by 616.8% during the 3rd quarter. Millennium Management LLC now owns 260,215 shares of the business services provider’s stock valued at $10,382,000 after purchasing an additional 223,913 shares in the last quarter. 91.21% of the stock is owned by 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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Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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