Q1 2022 Earnings Forecast for Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Issued By Raymond James

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) – Research analysts at Raymond James lowered their Q1 2022 earnings per share (EPS) estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Monday, April 25th. Raymond James analyst B. Cherniavsky now expects that the business services provider will earn $0.16 per share for the quarter, down from their previous forecast of $0.24. Raymond James has a “Market Perform” rating and a $57.00 price target on the stock. Raymond James also issued estimates for Ritchie Bros. Auctioneers’ Q2 2022 earnings at $0.47 EPS.

A number of other research firms have also recently commented on RBA. StockNews.com began coverage on shares of Ritchie Bros. Auctioneers in a research note on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird dropped their price target on shares of Ritchie Bros. Auctioneers from $82.00 to $70.00 in a research note on Tuesday, February 22nd. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 27th. TD Securities upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 6th. Finally, Royal Bank of Canada upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and reduced their price target for the company from $69.00 to $60.00 in a report on Tuesday, February 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.17.

Shares of NYSE:RBA opened at $56.46 on Tuesday. Ritchie Bros. Auctioneers has a 52 week low of $48.65 and a 52 week high of $76.18. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $56.96. The stock has a market cap of $6.25 billion, a PE ratio of 41.51, a P/E/G ratio of 4.99 and a beta of 1.15.

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

In other news, CEO Ann Fandozzi bought 9,560 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was purchased at an average cost of $52.25 per share, for a total transaction of $499,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. acquired a new stake in Ritchie Bros. Auctioneers in the third quarter valued at approximately $42,000. Nordea Investment Management AB raised its holdings in Ritchie Bros. Auctioneers by 100.0% in the third quarter. Nordea Investment Management AB now owns 18,170 shares of the business services provider’s stock valued at $1,128,000 after acquiring an additional 9,085 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Ritchie Bros. Auctioneers by 28.9% in the third quarter. New York State Common Retirement Fund now owns 208,429 shares of the business services provider’s stock valued at $12,852,000 after acquiring an additional 46,705 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Ritchie Bros. Auctioneers during the third quarter worth approximately $428,000. Finally, Segall Bryant & Hamill LLC grew its position in shares of Ritchie Bros. Auctioneers by 2.6% during the third quarter. Segall Bryant & Hamill LLC now owns 96,425 shares of the business services provider’s stock worth $5,945,000 after acquiring an additional 2,437 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Company Profile (Get Rating)

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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