Zacks: Analysts Anticipate Ritchie Bros. Auctioneers Inc (RBA) Will Announce Quarterly Sales of $341.97 Million

Equities analysts forecast that Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) will report sales of $341.97 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with the lowest sales estimate coming in at $323.12 million and the highest estimate coming in at $373.66 million. Ritchie Bros. Auctioneers posted sales of $308.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.8%. The firm is scheduled to issue its next earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.26 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.32 billion. For the next financial year, analysts forecast that the company will post sales of $1.34 billion, with estimates ranging from $1.27 billion to $1.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). The company had revenue of $303.40 million during the quarter, compared to the consensus estimate of $268.69 million. Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.55%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share.

A number of research firms have weighed in on RBA. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. ValuEngine downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 7th. TD Securities raised their target price on shares of Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the company a “reduce” rating in a report on Tuesday, March 5th. Finally, Royal Bank of Canada dropped their target price on shares of Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of $37.06.

Several institutional investors have recently added to or reduced their stakes in RBA. Shell Asset Management Co. boosted its position in shares of Ritchie Bros. Auctioneers by 3.5% in the first quarter. Shell Asset Management Co. now owns 8,890 shares of the business services provider’s stock worth $302,000 after acquiring an additional 300 shares during the last quarter. Brand Asset Management Group Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers in the first quarter worth approximately $54,000. Armstrong Henry H Associates Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 7.2% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 6,685 shares of the business services provider’s stock worth $219,000 after acquiring an additional 450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ritchie Bros. Auctioneers by 8.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,898 shares of the business services provider’s stock worth $226,000 after acquiring an additional 518 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Ritchie Bros. Auctioneers by 9.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,347 shares of the business services provider’s stock worth $208,000 after acquiring an additional 529 shares during the last quarter. 91.74% of the stock is currently owned by institutional investors.

RBA stock traded down $1.07 during mid-day trading on Thursday, reaching $33.54. The company had a trading volume of 1,521,926 shares, compared to its average volume of 172,850. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.10 and a beta of 0.79. Ritchie Bros. Auctioneers has a 52 week low of $30.76 and a 52 week high of $38.77.

About Ritchie Bros. Auctioneers

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

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