Brokerages Expect Ritchie Bros. Auctioneers Incorporated (RBA) to Post $0.16 EPS
Wall Street brokerages forecast that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will report $0.16 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Ritchie Bros. Auctioneers’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.12. Ritchie Bros. Auctioneers posted earnings of $0.20 per share in the same quarter last year, which would suggest a negative year over year growth rate of 20%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.80 to $1.04. For the next financial year, analysts forecast that the firm will report earnings of $1.12 per share, with EPS estimates ranging from $1.00 to $1.21. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share.
Several research firms recently commented on RBA. Scotiabank cut their price target on shares of Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, July 10th. BidaskClub downgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. William Blair reaffirmed an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, April 24th. Royal Bank Of Canada set a $41.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Saturday, April 22nd. Finally, Raymond James Financial, Inc. lowered their price objective on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.42.
Shares of Ritchie Bros. Auctioneers (RBA) traded down 0.59% on Tuesday, hitting $28.42. 773,311 shares of the company were exchanged. Ritchie Bros. Auctioneers has a 52-week low of $26.68 and a 52-week high of $39.96. The firm has a market cap of $3.04 billion, a P/E ratio of 61.52 and a beta of 0.55. The company has a 50-day moving average price of $28.11 and a 200 day moving average price of $30.65.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is currently 144.68%.
Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in Ritchie Bros. Auctioneers during the second quarter worth $175,728,000. CGOV Asset Management increased its stake in Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Ritchie Bros. Auctioneers by 87.9% in the first quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after buying an additional 1,271,836 shares during the last quarter. Finally, KAMES CAPITAL plc bought a new stake in Ritchie Bros. Auctioneers during the first quarter worth $25,500,000. 94.17% of the stock is owned by institutional investors and hedge funds.
About Ritchie Bros. Auctioneers
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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