Zacks: Analysts Anticipate Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Will Announce Earnings of $0.32 Per Share

Equities research analysts expect that Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) will announce $0.32 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Ritchie Bros. Auctioneers’ earnings. The highest EPS estimate is $0.35 and the lowest is $0.27. Ritchie Bros. Auctioneers posted earnings of $0.25 per share during the same quarter last year, which indicates a positive year over year growth rate of 28%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full year earnings of $2.12 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.38. For the next year, analysts anticipate that the firm will post earnings of $2.31 per share, with EPS estimates ranging from $2.10 to $2.54. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last posted its quarterly earnings results on Thursday, February 17th. The business services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.22). The business had revenue of $359.37 million for the quarter, compared to analyst estimates of $391.89 million. Ritchie Bros. Auctioneers had a return on equity of 16.06% and a net margin of 10.72%. During the same quarter in the previous year, the firm posted $0.49 earnings per share.

Several brokerages recently weighed in on RBA. TD Securities raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and cut their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 6th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 27th. Royal Bank of Canada upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from $69.00 to $60.00 in a report on Tuesday, February 22nd. Robert W. Baird lowered their price target on shares of Ritchie Bros. Auctioneers from $82.00 to $70.00 in a report on Tuesday, February 22nd. Finally, StockNews.com initiated coverage on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 31st. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.17.

Shares of Ritchie Bros. Auctioneers stock traded down $0.79 on Tuesday, reaching $57.05. The company had a trading volume of 364,335 shares, compared to its average volume of 496,295. The business has a 50 day simple moving average of $57.70. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 5.12 and a beta of 1.15. Ritchie Bros. Auctioneers has a 52-week low of $48.65 and a 52-week high of $76.18. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 1.62.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Friday, February 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, February 10th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 73.53%.

In other news, CEO Ann Fandozzi acquired 9,560 shares of the business’s stock in a transaction on Monday, February 28th. The stock was bought at an average price of $52.25 per share, for a total transaction of $499,510.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ritchie Bros. Auctioneers during the 4th quarter worth about $64,309,000. Marathon Asset Mgmt Ltd purchased a new position in Ritchie Bros. Auctioneers in the third quarter valued at approximately $58,595,000. Capital Research Global Investors raised its holdings in Ritchie Bros. Auctioneers by 114.6% in the fourth quarter. Capital Research Global Investors now owns 1,542,261 shares of the business services provider’s stock valued at $94,380,000 after buying an additional 823,682 shares during the period. Invesco Ltd. raised its stake in shares of Ritchie Bros. Auctioneers by 8.1% during the third quarter. Invesco Ltd. now owns 4,392,942 shares of the business services provider’s stock valued at $270,867,000 after purchasing an additional 329,904 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Ritchie Bros. Auctioneers by 65.4% during the third quarter. The Manufacturers Life Insurance Company now owns 778,315 shares of the business services provider’s stock valued at $60,833,000 after purchasing an additional 307,768 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

About Ritchie Bros. Auctioneers (Get Rating)

Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.

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