Ritchie Bros. Auctioneers (NYSE:RBA) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) released its quarterly earnings data on Thursday. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01, Briefing.com reports. The firm had revenue of $289.80 million for the quarter, compared to analyst estimates of $289.55 million. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. Ritchie Bros. Auctioneers’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share.

Shares of NYSE:RBA traded down $0.38 during trading hours on Friday, hitting $41.28. The stock had a trading volume of 1,072,627 shares, compared to its average volume of 346,689. The stock’s fifty day simple moving average is $39.84 and its 200 day simple moving average is $36.72. Ritchie Bros. Auctioneers has a 1-year low of $30.76 and a 1-year high of $42.97. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 4.67 and a beta of 0.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.24.

Several equities research analysts recently weighed in on RBA shares. Bank of America increased their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $33.50 and gave the stock an “underperform” rating in a research note on Friday, August 9th. Raymond James reiterated a “market perform” rating and set a $36.50 price objective on shares of Ritchie Bros. Auctioneers in a research note on Monday, October 21st. ValuEngine lowered shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. National Bank Financial lowered shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating in a research note on Friday. Finally, TD Securities increased their price objective on shares of Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the stock a “reduce” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and an average price target of $36.25.

In related news, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total transaction of $89,633.07. Following the transaction, the insider now owns 5,626 shares in the company, valued at $221,270.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Donald Wohler sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.50, for a total transaction of $79,000.00. Following the transaction, the insider now owns 13,919 shares in the company, valued at approximately $549,800.50. The disclosure for this sale can be found here. Insiders sold 8,709 shares of company stock worth $344,944 in the last 90 days. 1.60% of the stock is owned by company insiders.

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

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