Analysts Anticipate Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Will Post Quarterly Sales of $438.96 Million

Posted by on Jun 8th, 2022

Analysts expect that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) will post sales of $438.96 million for the current quarter, Zacks reports. Three analysts have made estimates for Ritchie Bros. Auctioneers’ earnings, with the highest sales estimate coming in at $451.20 million and the lowest estimate coming in at $430.88 million. Ritchie Bros. Auctioneers posted sales of $396.36 million during the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.56 billion for the current financial year, with estimates ranging from $1.53 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.69 billion, with estimates ranging from $1.61 billion to $1.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last released its earnings results on Monday, May 9th. The business services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $1.43. The firm had revenue of $393.92 million during the quarter, compared to the consensus estimate of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share.

RBA has been the subject of a number of research analyst reports. National Bank Financial cut their target price on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 22nd. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 11th. National Bankshares dropped their price target on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 22nd. StockNews.com raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a report on Friday, May 13th. Finally, Bank of America raised Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating and upped their price target for the company from $51.00 to $61.00 in a report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ritchie Bros. Auctioneers currently has an average rating of “Hold” and an average price target of $60.14.

Large investors have recently made changes to their positions in the business. Vigilant Capital Management LLC raised its stake in Ritchie Bros. Auctioneers by 669.2% during the 1st quarter. Vigilant Capital Management LLC now owns 500 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 435 shares during the period. Addison Advisors LLC purchased a new position in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Ritchie Bros. Auctioneers by 860.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 759 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 680 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Ritchie Bros. Auctioneers by 70.1% during the 4th quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 316 shares in the last quarter. Finally, Curi Wealth Management LLC purchased a new position in shares of Ritchie Bros. Auctioneers during the 4th quarter valued at $58,000. 81.62% of the stock is currently owned by institutional investors.

RBA opened at $61.67 on Wednesday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 5.11 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.21 and a quick ratio of 1.12. Ritchie Bros. Auctioneers has a 1-year low of $48.65 and a 1-year high of $76.18. The business has a 50 day moving average price of $57.92 and a two-hundred day moving average price of $59.86.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 26th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 36.90%.

About Ritchie Bros. Auctioneers (Get Rating)

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. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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