Zacks: Analysts Anticipate Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Will Post Quarterly Sales of $419.25 Million

Analysts expect that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will report sales of $419.25 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $399.59 million and the highest is $437.20 million. Ritchie Bros. Auctioneers posted sales of $389.05 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The company is scheduled to report its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.46 billion for the current financial year, with estimates ranging from $1.44 billion to $1.49 billion. For the next year, analysts forecast that the company will post sales of $1.59 billion, with estimates ranging from $1.54 billion to $1.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Sunday, May 9th. The business services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $331.56 million for the quarter, compared to analysts’ expectations of $294.73 million. Ritchie Bros. Auctioneers had a return on equity of 19.76% and a net margin of 13.03%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share.

A number of brokerages have recently issued reports on RBA. Bank of America lowered Ritchie Bros. Auctioneers from a “neutral” rating to an “underperform” rating and set a $55.00 target price on the stock. in a research report on Thursday, February 4th. National Bankshares lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a report on Wednesday. National Bank Financial lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a report on Tuesday. They noted that the move was a valuation call. OTR Global reaffirmed a “mixed” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, April 27th. Finally, Raymond James boosted their price objective on Ritchie Bros. Auctioneers from $59.00 to $65.00 and gave the stock a “market perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.86.

In related news, insider James J. Jeter sold 600 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $56.43, for a total transaction of $33,858.00. Following the transaction, the insider now directly owns 25,373 shares of the company’s stock, valued at $1,431,798.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 500 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $57.00, for a total value of $28,500.00. Following the transaction, the insider now directly owns 15,671 shares in the company, valued at $893,247. The disclosure for this sale can be found here. Insiders sold 54,343 shares of company stock worth $3,054,464 in the last ninety days. 0.83% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Capital Group LLC lifted its position in shares of Ritchie Bros. Auctioneers by 52.8% in the first quarter. Private Capital Group LLC now owns 860 shares of the business services provider’s stock worth $50,000 after purchasing an additional 297 shares in the last quarter. MD Financial Management Inc. acquired a new position in Ritchie Bros. Auctioneers in the first quarter worth approximately $53,000. Capital Asset Advisory Services LLC acquired a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at approximately $56,000. Curi Capital acquired a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at approximately $65,000. Finally, Fieldpoint Private Securities LLC acquired a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at approximately $71,000. 80.25% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE RBA traded down $4.47 during midday trading on Friday, reaching $60.92. 96,712 shares of the company’s stock were exchanged, compared to its average volume of 731,814. Ritchie Bros. Auctioneers has a 52-week low of $38.80 and a 52-week high of $78.64. The stock has a market capitalization of $6.72 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 4.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.26 and a current ratio of 1.34. The business’s fifty day moving average price is $62.11 and its two-hundred day moving average price is $62.82.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.

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Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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