Equities research analysts expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) to announce sales of $327.59 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $323.30 million and the highest is $333.45 million. Ritchie Bros. Auctioneers reported sales of $331.54 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, November 4th.
On average, analysts expect that Ritchie Bros. Auctioneers will report full-year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.47 billion. For the next fiscal year, analysts expect that the business will report sales of $1.70 billion, with estimates ranging from $1.54 billion to $1.85 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Ritchie Bros. Auctioneers.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, August 4th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). The business had revenue of $396.36 million for the quarter, compared to analyst estimates of $418.80 million. Ritchie Bros. Auctioneers had a net margin of 12.70% and a return on equity of 18.95%.
In other Ritchie Bros. Auctioneers news, CMO Matthew Ackley sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $60.25, for a total transaction of $120,500.00. Following the completion of the sale, the chief marketing officer now owns 19,510 shares of the company’s stock, valued at approximately $1,175,477.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sharon Ruth Driscoll sold 14,795 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $61.75, for a total transaction of $913,591.25. Following the sale, the chief financial officer now directly owns 18,395 shares of the company’s stock, valued at approximately $1,135,891.25. The disclosure for this sale can be found here. Insiders have sold 27,445 shares of company stock valued at $1,701,154 in the last ninety days. 0.54% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Korea Investment CORP lifted its holdings in shares of Ritchie Bros. Auctioneers by 10.8% in the 2nd quarter. Korea Investment CORP now owns 51,500 shares of the business services provider’s stock worth $3,056,000 after purchasing an additional 5,000 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of Ritchie Bros. Auctioneers by 3.6% in the 2nd quarter. Fiera Capital Corp now owns 2,405,886 shares of the business services provider’s stock worth $97,660,000 after purchasing an additional 84,102 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of Ritchie Bros. Auctioneers by 41.5% in the 2nd quarter. Shell Asset Management Co. now owns 26,200 shares of the business services provider’s stock worth $1,555,000 after purchasing an additional 7,689 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 16.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 499,193 shares of the business services provider’s stock worth $29,592,000 after purchasing an additional 72,165 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ritchie Bros. Auctioneers by 260.9% in the 1st quarter. Russell Investments Group Ltd. now owns 89,245 shares of the business services provider’s stock worth $5,223,000 after purchasing an additional 64,519 shares in the last quarter. Institutional investors own 80.89% of the company’s stock.
Ritchie Bros. Auctioneers stock traded up $1.28 during trading hours on Friday, hitting $66.16. The company had a trading volume of 31,643 shares, compared to its average volume of 572,934. The firm’s fifty day moving average is $62.28 and its 200-day moving average is $61.36. Ritchie Bros. Auctioneers has a fifty-two week low of $50.61 and a fifty-two week high of $78.64. The firm has a market capitalization of $7.31 billion, a P/E ratio of 39.32, a price-to-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 quick ratio of 1.04.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, August 25th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Tuesday, August 24th. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.22. Ritchie Bros. Auctioneers’s payout ratio is presently 59.52%.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.
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