$142.11 Million in Sales Expected for Ritchie Bros. Auctioneers Inc (RBA) This Quarter

Brokerages expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to post $142.11 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with estimates ranging from $124.00 million to $148.62 million. Ritchie Bros. Auctioneers reported sales of $124.50 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The business is expected to announce its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $142.11 million for the current financial year, with estimates ranging from $641.00 million to $691.79 million. For the next financial year, analysts anticipate that the business will report sales of $729.62 million per share, with estimates ranging from $671.70 million to $767.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Ritchie Bros. Auctioneers.

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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, February 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. The company had revenue of $178.80 million for the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis.

Several research firms recently weighed in on RBA. Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, March 6th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, March 1st. National Bank Financial lifted their price target on Ritchie Bros. Auctioneers from $30.50 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Raymond James Financial lifted their price target on Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, TheStreet upgraded Ritchie Bros. Auctioneers from a “c” rating to a “b-” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.80.

Ritchie Bros. Auctioneers (NYSE:RBA) traded down $0.63 during midday trading on Tuesday, hitting $30.22. The company had a trading volume of 579,450 shares, compared to its average volume of 926,296. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 1.06. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $35.17. The company has a market capitalization of $3,243.45, a price-to-earnings ratio of 37.77, a PEG ratio of 3.09 and a beta of 0.64.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 16th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, February 15th. Ritchie Bros. Auctioneers’s payout ratio is 98.55%.

Large investors have recently made changes to their positions in the business. Zions Bancorporation purchased a new position in Ritchie Bros. Auctioneers during the third quarter valued at $127,000. Comerica Bank purchased a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at $217,000. ETRADE Capital Management LLC purchased a new position in Ritchie Bros. Auctioneers during the third quarter valued at $218,000. Dynamic Technology Lab Private Ltd purchased a new position in Ritchie Bros. Auctioneers during the third quarter valued at $287,000. Finally, Jane Street Group LLC purchased a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at $323,000.

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About Ritchie Bros. Auctioneers

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

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Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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