$348.48 Million in Sales Expected for Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) This Quarter

Wall Street brokerages expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) to post $348.48 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with estimates ranging from $341.98 million to $353.30 million. Ritchie Bros. Auctioneers posted sales of $331.56 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The company is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.50 billion to $1.77 billion. For the next financial year, analysts expect that the firm will report sales of $1.79 billion, with estimates ranging from $1.60 billion to $1.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ritchie Bros. Auctioneers.

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

RBA has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of Ritchie Bros. Auctioneers from $60.00 to $57.00 and set a “market perform” rating for the company in a research report on Friday, February 18th. National Bank Financial decreased their price target on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating for the company in a report on Tuesday, February 22nd. National Bankshares decreased their price target on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating for the company in a report on Tuesday, February 22nd. TD Securities raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and decreased their price target for the stock from $69.00 to $64.00 in a report on Thursday, January 6th. Finally, Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.17.

In other news, CEO Ann Fandozzi purchased 9,560 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were bought at an average price of $52.25 per share, for a total transaction of $499,510.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in Ritchie Bros. Auctioneers by 3.5% during the third quarter. Public Sector Pension Investment Board now owns 297,347 shares of the business services provider’s stock worth $18,345,000 after purchasing an additional 10,050 shares during the period. Knowledge Leaders Capital LLC increased its position in shares of Ritchie Bros. Auctioneers by 10.7% during the fourth quarter. Knowledge Leaders Capital LLC now owns 7,812 shares of the business services provider’s stock valued at $478,000 after acquiring an additional 756 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Ritchie Bros. Auctioneers by 15.3% during the third quarter. Shell Asset Management Co. now owns 30,200 shares of the business services provider’s stock valued at $1,863,000 after acquiring an additional 4,000 shares during the last quarter. Regency Capital Management Inc. DE increased its position in shares of Ritchie Bros. Auctioneers by 49.3% during the third quarter. Regency Capital Management Inc. DE now owns 33,483 shares of the business services provider’s stock valued at $2,065,000 after acquiring an additional 11,063 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased 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 valued at $5,945,000 after acquiring an additional 2,437 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:RBA opened at $55.48 on Thursday. Ritchie Bros. Auctioneers has a 52 week low of $48.65 and a 52 week high of $76.18. The firm has a 50 day moving average of $56.85 and a 200 day moving average of $61.75. 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 stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 4.99 and a beta of 1.15.

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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