Brokerages Anticipate Ritchie Bros. Auctioneers Incorporated (RBA) to Post $0.14 EPS
Equities analysts expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) to post earnings of $0.14 per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings. The highest EPS estimate is $0.17 and the lowest is $0.12. Ritchie Bros. Auctioneers posted earnings per share of $0.20 in the same quarter last year, which would suggest a negative year-over-year growth rate of 30%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full year earnings of $0.90 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.96. For the next year, analysts expect that the company will post earnings of $1.10 per share, with EPS estimates ranging from $1.00 to $1.21. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The business had revenue of $166.20 million during the quarter, compared to analyst estimates of $161.85 million. During the same period last year, the company earned $0.37 earnings per share. Ritchie Bros. Auctioneers’s quarterly revenue was up 4.7% compared to the same quarter last year.
Several equities research analysts have commented on RBA shares. Royal Bank Of Canada set a $40.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Robert W. Baird reissued a “buy” rating and set a $33.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 8th. Jefferies Group LLC reissued a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 14th. Finally, Raymond James Financial, Inc. cut their price target on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.67.
Shares of Ritchie Bros. Auctioneers (RBA) traded up 0.60% during mid-day trading on Tuesday, hitting $28.34. The company had a trading volume of 232,752 shares. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96. The firm’s 50-day moving average price is $29.96 and its 200 day moving average price is $30.05. The company has a market capitalization of $3.04 billion, a P/E ratio of 61.74 and a beta of 0.57.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.41%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 144.68%.
In related news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the purchase, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its stake in Ritchie Bros. Auctioneers by 1.7% in the 1st quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock valued at $14,841,000 after buying an additional 7,478 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Ritchie Bros. Auctioneers by 2,029.1% during the 1st quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after purchasing an additional 457,917 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Ritchie Bros. Auctioneers by 338.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after purchasing an additional 6,257 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Ritchie Bros. Auctioneers by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after purchasing an additional 3,601 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in shares of Ritchie Bros. Auctioneers during the 2nd quarter worth approximately $3,937,000. Institutional investors and hedge funds own 96.01% of the company’s stock.
Ritchie Bros. Auctioneers Company Profile
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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