Ritchie Bros. Auctioneers Incorporated to Post Q2 2022 Earnings of $0.60 Per Share, Raymond James Forecasts (TSE:RBA)

Ritchie Bros. Auctioneers Incorporated (TSE:RBAGet Rating) (NYSE:RBA) – Equities research analysts at Raymond James increased their Q2 2022 earnings estimates for Ritchie Bros. Auctioneers in a research report issued to clients and investors on Monday, May 2nd. Raymond James analyst B. Cherniavsky now anticipates that the company will earn $0.60 per share for the quarter, up from their previous forecast of $0.59. Raymond James has a “Market Perform” rating and a $73.00 price target on the stock. Raymond James also issued estimates for Ritchie Bros. Auctioneers’ Q3 2022 earnings at $0.45 EPS, FY2022 earnings at $1.89 EPS and FY2023 earnings at $2.21 EPS.

Ritchie Bros. Auctioneers (TSE:RBAGet Rating) (NYSE:RBA) last released its earnings results on Thursday, February 17th. The company reported C$0.34 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.27). The firm had revenue of C$453.08 million during the quarter, compared to analysts’ expectations of C$495.22 million.

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

RBA stock opened at C$68.45 on Wednesday. Ritchie Bros. Auctioneers has a fifty-two week low of C$62.02 and a fifty-two week high of C$94.96. The business’s 50-day moving average is C$72.27 and its two-hundred day moving average is C$77.82. 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 company has a market cap of C$7.57 billion and a price-to-earnings ratio of 39.27.

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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