Ritchie Bros. Auctioneers Incorporated Forecasted to Earn Q4 2022 Earnings of $0.64 Per Share (TSE:RBA)

Ritchie Bros. Auctioneers Incorporated (TSE:RBA – Get Rating) (NYSE:RBA) – Analysts at Raymond James decreased their Q4 2022 earnings per share (EPS) estimates for Ritchie Bros. Auctioneers in a report issued on Monday, May 2nd. Raymond James analyst B. Cherniavsky now expects that the company will post earnings of $0.64 per share for the quarter, down from their previous estimate of $0.67. Raymond James has a “Market Perform” rating and a $73.00 price target on the stock.

Ritchie Bros. Auctioneers (TSE:RBA – Get Rating) (NYSE:RBA) last announced its quarterly earnings results on Thursday, February 17th. The company reported C$0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.61 by C($0.27). The company had revenue of C$453.08 million for the quarter, compared to the consensus estimate of C$495.22 million.

Several other equities research analysts have also commented on RBA. TD Securities raised shares of Ritchie Bros. Auctioneers to a “buy” rating in a research report on Thursday, January 6th. Royal Bank of Canada raised shares of Ritchie Bros. Auctioneers from a “sector perform” rating to a “buy” rating and reduced their price target for the company from C$69.00 to C$60.00 in a research report on Tuesday, February 22nd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a C$70.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, February 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$70.20.

RBA opened at C$68.44 on Tuesday. The company has a debt-to-equity ratio of 176.32, a quick ratio of 0.83 and a current ratio of 1.30. The stock has a market capitalization of C$7.57 billion and a P/E ratio of 39.27. The company’s 50-day simple moving average is C$72.19 and its two-hundred day simple moving average is C$77.89. Ritchie Bros. Auctioneers has a 52-week low of C$62.02 and a 52-week high of C$94.96.

About Ritchie Bros. Auctioneers (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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