Ritchie Bros. Auctioneers (RBA) to Release Earnings on Thursday

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) is set to release its earnings data after the market closes on Thursday, November 8th. Analysts expect Ritchie Bros. Auctioneers to post earnings of $0.16 per share for the quarter.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, August 9th. The business services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $206.80 million for the quarter, compared to analyst estimates of $225.52 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. On average, analysts expect Ritchie Bros. Auctioneers to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of Ritchie Bros. Auctioneers stock opened at $32.84 on Wednesday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 2.35 and a beta of 0.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.26. Ritchie Bros. Auctioneers has a 12-month low of $24.08 and a 12-month high of $38.77.

In other news, SVP Kieran Colquhoun Holm sold 13,240 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total value of $506,297.60. Following the sale, the senior vice president now directly owns 11,278 shares in the company, valued at approximately $431,270.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

An institutional investor recently raised its position in Ritchie Bros. Auctioneers stock. Bank of New York Mellon Corp grew its stake in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 23.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,848 shares of the business services provider’s stock after purchasing an additional 7,072 shares during the period. Bank of New York Mellon Corp’s holdings in Ritchie Bros. Auctioneers were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 93.82% of the company’s stock.

A number of equities research analysts have issued reports on RBA shares. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, September 28th. National Bank Financial increased their price objective on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, August 13th. Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday. Macquarie increased their price objective on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Finally, Raymond James increased their price objective on shares of Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.11.

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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 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.

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

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