Brokerages Anticipate Ritchie Bros Auctioneers Inc (RBA) to Announce $0.22 EPS

Wall Street analysts expect that Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) will announce earnings per share (EPS) of $0.22 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Ritchie Bros Auctioneers’ earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.26. Ritchie Bros Auctioneers posted earnings per share of $0.27 during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.5%. The business is scheduled to report its next quarterly earnings report on Monday, May 8th.

On average, analysts expect that Ritchie Bros Auctioneers will report full-year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.05 to $1.32. For the next financial year, analysts forecast that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.20 to $1.70. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Ritchie Bros Auctioneers.

Ritchie Bros Auctioneers (NYSE:RBA) last released its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company earned $146.80 million during the quarter, compared to the consensus estimate of $133.92 million. Ritchie Bros Auctioneers had a return on equity of 17.38% and a net margin of 19.91%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS.

Several research analysts have issued reports on RBA shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $29.00 target price (down from $32.00) on shares of Ritchie Bros Auctioneers in a report on Friday, April 14th. TD Securities reaffirmed a “sell” rating on shares of Ritchie Bros Auctioneers in a report on Tuesday, April 11th. CIBC reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Ritchie Bros Auctioneers in a report on Thursday, April 13th. Bank of America Corp cut shares of Ritchie Bros Auctioneers from a “neutral” rating to an “underperform” rating in a report on Friday, January 13th. Finally, BMO Capital Markets decreased their target price on shares of Ritchie Bros Auctioneers from $38.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.88.

Hedge funds have recently made changes to their positions in the stock. CGOV Asset Management raised its stake in shares of Ritchie Bros Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares during the period. Janus Capital Management LLC raised its stake in shares of Ritchie Bros Auctioneers by 3.2% in the fourth quarter. Janus Capital Management LLC now owns 6,196,001 shares of the business services provider’s stock valued at $210,664,000 after buying an additional 191,369 shares during the period. Norges Bank acquired a new stake in shares of Ritchie Bros Auctioneers during the fourth quarter valued at about $53,619,000. Aberdeen Asset Management PLC UK raised its stake in shares of Ritchie Bros Auctioneers by 40.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,513,318 shares of the business services provider’s stock valued at $51,453,000 after buying an additional 436,737 shares during the period. Finally, Columbia Wanger Asset Management LLC acquired a new stake in shares of Ritchie Bros Auctioneers during the fourth quarter valued at about $39,406,000. Institutional investors own 89.55% of the company’s stock.

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Shares of Ritchie Bros Auctioneers (NYSE:RBA) opened at 30.85 on Friday. Ritchie Bros Auctioneers has a 1-year low of $27.13 and a 1-year high of $39.96. The stock’s 50 day moving average price is $31.67 and its 200 day moving average price is $34.10. The company has a market cap of $3.30 billion, a P/E ratio of 36.29 and a beta of 0.62.

About Ritchie Bros Auctioneers

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

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