$ 327.59 million in expected sales for Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) this quarter
The brokerage firms predict that Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSE: RBA) will post sales of $ 327.59 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Ritchie Bros. Auctioneers, with the lowest sales estimate at $ 323.30 million and the highest estimate at $ 333.45 million. Ritchie Bros. Auctioneers posted sales of $ 331.54 million in the same quarter last year, suggesting a negative year-over-year growth rate of 1.2%. The company is expected to release its next quarterly earnings report on Thursday, November 4.
According to Zacks, analysts expect Ritchie Bros. Auctioneers reports annual revenue of $ 1.45 billion for the current fiscal year, with estimates ranging from $ 1.44 billion to $ 1.47 billion. For next year, analysts predict the company will post sales of $ 1.70 billion, with estimates ranging from $ 1.54 billion to $ 1.85 billion. Zacks’ sales averages are an average based on a survey of research analysts who follow Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE: RBA) (TSE: RBA) last released its results on Wednesday, August 4. The business services provider reported EPS of $ 0.55 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.61 ($ 0.06). The company posted revenue of $ 396.36 million for the quarter, compared to analysts’ expectations of $ 418.80 million. Ritchie Bros. Auctioneers had a net margin of 12.70% and a return on equity of 18.95%.
The RBA has been the subject of several research analyst reports. National Bankshares has reduced its price target on Ritchie Bros. Auctioneers from $ 66.00 to $ 62.00 and established a “sector performance” rating for the stock in a research note on Monday, August 9. Raymond James lowered his price target on Ritchie Bros. Auctioneers from $ 65.00 to $ 63.00 and established a “market performance” rating on the stock in a research report on Friday August 6. Zacks Investment Research brought down Ritchie Bros. Auctioneers range from a âkeepâ rating to a âstrong sellâ rating in a research report released on Wednesday, July 14. National Bank Financial has lowered its price target on Ritchie Bros. Auctioneers from $ 66.00 to $ 62.00 and established a “sector performance” rating for the stock in a research report released on Monday, August 9. Finally, TD Securities lowered its target price for Ritchie Bros. Auctioneers from $ 67.00 to $ 64.00 and established a “hold” rating for the stock in a research report on Monday August 16. Two research analysts rated the stock with a sell rating and six issued a conservation rating for the company’s stock. According to data from MarketBeat.com, Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and an average price target of $ 64.33.
RBA shares opened at $ 61.57 on Friday. The company’s fifty-day mobile average price is $ 61.18 and its 200-day mobile average price is $ 60.50. Ritchie Bros. Auctioneers have a 12 month low of $ 50.61 and a 12 month high of $ 78.64. The stock has a market cap of $ 6.80 billion, a PE ratio of 37.32, a price / earnings-growth ratio of 5.41 and a beta of 1.18. The company has a debt to equity ratio of 0.59, a current ratio of 1.16, and a rapid ratio of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15. Investors registered on Wednesday August 25 received a dividend of $ 0.25. This represents a dividend of $ 1.00 on an annualized basis and a dividend yield of 1.62%. This is an increase from Ritchie Bros.’s previous quarterly dividend of $ 0.22. Auctioneers. The ex-dividend date of this dividend was Tuesday, August 24. The dividend payout ratio (DPR) of Ritchie Bros. Auctioneers are currently at 59.52%.
In other Ritchie Bros. news Auctioneers, insider James J. Jeter sold 7,250 shares of Ritchie Bros. Auctioneers in a transaction that took place on Monday August 16. The stock was sold for an average price of $ 62.90, for a total value of $ 456,025.00. The sale was disclosed in a filing with the SEC, which is available through this link. Additionally, CFO Sharon Ruth Driscoll sold 14,795 shares of Ritchie Bros. Auctioneers in a transaction that took place on Wednesday August 18. The stock was sold for an average price of $ 61.75, for a total value of $ 913,591.25. Following the completion of the transaction, the Chief Financial Officer now directly owns 18,395 shares of the company, valued at $ 1,135,891.25. Disclosure of this sale can be found here. Insiders have sold a total of 27,445 shares of the company valued at $ 1,701,154 in the past three months. 0.54% of the shares are held by insiders of the company.
Large investors have recently changed their positions in the company. Ameritas Investment Company LLC has acquired a new stake in the shares of Ritchie Bros. Auctioneers during the 1st quarter valued at approximately $ 26,000. Advisory Services Network LLC has acquired a new stake in Ritchie Bros. Auctioneers in the 2nd quarter for a value of $ 27,000. MD Financial Management Inc. has acquired a new interest in Ritchie Bros. Auctioneers during the first quarter valued at $ 53,000. Quadrant Capital Group LLC increased its stake in Ritchie Bros. Auctioneers of 38.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,262 shares of the business services provider valued at $ 75,000 after purchasing 348 additional shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in Ritchie Bros. Auctioneers in the 2nd quarter for a value of $ 111,000. 80.89% of the shares are currently held by institutional investors.
About auctioneers Ritchie Bros.
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer who sells equipment to bidders onsite and online. It operates through the following segments: Auctions and Marketplace, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplace segment includes live on-site auctions, online auctions and marketplaces, as well as brokerage service.
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