Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) issued its quarterly earnings results on Monday. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01, MarketWatch Earnings reports. Ritchie Bros. Auctioneers had a return on equity of 15.19% and a net margin of 13.02%. The company had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $161.85 million. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.
Ritchie Bros. Auctioneers (RBA) traded up 9.432% during mid-day trading on Tuesday, reaching $29.875. The company had a trading volume of 1,658,877 shares. The stock has a market cap of $3.20 billion, a PE ratio of 43.934 and a beta of 0.55. Ritchie Bros. Auctioneers has a 12 month low of $26.68 and a 12 month high of $39.96. The firm’s 50-day moving average price is $28.30 and its 200-day moving average price is $30.91.
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Several equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $41.00 price target on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Saturday, April 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 14th. BidaskClub cut Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, National Bank Financial restated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.75.
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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