Ritchie Bros. Auctioneers Inc (RBA) Expected to Announce Earnings of $0.44 Per Share

Brokerages expect Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) to announce $0.44 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Ritchie Bros. Auctioneers’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.49. Ritchie Bros. Auctioneers reported earnings per share of $0.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The company is expected to issue its next earnings report on Thursday, August 8th.

On average, analysts expect that Ritchie Bros. Auctioneers will report full-year earnings of $1.24 per share for the current year, with EPS estimates ranging from $1.15 to $1.44. For the next fiscal year, analysts anticipate that the business will report earnings of $1.48 per share, with EPS estimates ranging from $1.35 to $1.68. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, May 9th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $268.69 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis.

Several equities research analysts recently commented on the stock. Bank of America set a $35.00 target price on shares of Ritchie Bros. Auctioneers and gave the stock a “sell” rating in a research report on Friday, March 1st. Royal Bank of Canada cut their target price on shares of 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. National Bank Financial cut their target price on shares of Ritchie Bros. Auctioneers from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Monday, May 13th. CIBC reiterated a “hold” rating and set a $37.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, May 15th. Finally, Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.28.

NYSE:RBA traded up $0.03 during mid-day trading on Thursday, hitting $33.82. 149,105 shares of the company’s stock were exchanged, compared to its average volume of 337,787. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.16. Ritchie Bros. Auctioneers has a fifty-two week low of $30.76 and a fifty-two week high of $38.77. The company has a market cap of $3.62 billion, a PE ratio of 31.31, a P/E/G ratio of 3.78 and a beta of 0.80.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.13%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 66.67%.

Several hedge funds and other institutional investors have recently modified their holdings of RBA. Manchester Capital Management LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter worth approximately $34,000. Beutel Goodman & Co Ltd. acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter worth approximately $41,000. Brand Asset Management Group Inc. acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter worth approximately $54,000. Bremer Bank National Association acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter worth approximately $61,000. Finally, Icon Wealth Partners LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

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.

Further Reading: Asset Allocation and Your Retirement

Get a free copy of the Zacks research report on Ritchie Bros. Auctioneers (RBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.