Zacks: Brokerages Anticipate Ritchie Bros. Auctioneers Inc (RBA) Will Announce Quarterly Sales of $283.78 Million

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Wall Street analysts expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to post sales of $283.78 million for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings, with the lowest sales estimate coming in at $265.00 million and the highest estimate coming in at $312.87 million. Ritchie Bros. Auctioneers reported sales of $260.18 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, May 9th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $1.26 billion for the current year, with estimates ranging from $1.18 billion to $1.32 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.34 billion, with estimates ranging from $1.27 billion to $1.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, February 28th. The business services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $355.97 million for the quarter, compared to analysts’ expectations of $308.52 million. Ritchie Bros. Auctioneers had a return on equity of 14.68% and a net margin of 10.38%.

A number of brokerages have recently issued reports on RBA. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Raymond James reaffirmed a “market perform” rating and set a $38.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Monday, February 25th. TD Securities upped their price target on Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the stock a “reduce” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada reduced their price target on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $37.06.

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Ritchie Bros. Auctioneers by 9.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,718,774 shares of the business services provider’s stock valued at $285,278,000 after acquiring an additional 750,283 shares during the period. Eagle Asset Management Inc. increased its position in shares of Ritchie Bros. Auctioneers by 1.7% in the 1st quarter. Eagle Asset Management Inc. now owns 3,425,066 shares of the business services provider’s stock valued at $116,448,000 after acquiring an additional 57,519 shares during the period. Vanguard Group Inc increased its position in shares of Ritchie Bros. Auctioneers by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 2,686,036 shares of the business services provider’s stock valued at $97,046,000 after acquiring an additional 174,262 shares during the period. Vanguard Group Inc. increased its position in shares of Ritchie Bros. Auctioneers by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,686,036 shares of the business services provider’s stock valued at $97,046,000 after acquiring an additional 174,262 shares during the period. Finally, Marathon Asset Management LLP increased its position in shares of Ritchie Bros. Auctioneers by 0.8% in the 4th quarter. Marathon Asset Management LLP now owns 1,933,395 shares of the business services provider’s stock valued at $63,235,000 after acquiring an additional 15,704 shares during the period. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of RBA stock opened at $34.59 on Thursday. The firm has a market cap of $3.78 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.37. Ritchie Bros. Auctioneers has a 12-month low of $30.76 and a 12-month 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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