Brokerages forecast that Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) will report $139.42 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ritchie Bros. Auctioneers’ earnings. The lowest sales estimate is $132.23 million and the highest is $146.24 million. Ritchie Bros. Auctioneers posted sales of $128.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.2%. The business is expected to issue its next earnings results after the market closes on Thursday, November 9th.

According to Zacks, analysts expect that Ritchie Bros. Auctioneers will report full year sales of $139.42 million for the current fiscal year, with estimates ranging from $577.23 million to $601.00 million. For the next financial year, analysts anticipate that the company will report sales of $669.22 million per share, with estimates ranging from $646.96 million to $701.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The company had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. During the same quarter last year, the company posted $0.37 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year.

Several brokerages recently commented on RBA. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and set a $33.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. National Bank Financial dropped their price objective on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 9th. TD Securities dropped their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $30.67.

Shares of Ritchie Bros. Auctioneers (RBA) traded up $0.48 on Tuesday, hitting $28.78. 423,783 shares of the stock were exchanged, compared to its average volume of 598,700. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 3.32 and a beta of 0.66.

In related news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $28.59 per share, with a total value of $28,590.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $28,590. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Lloyds Banking Group plc boosted its stake in shares of Ritchie Bros. Auctioneers by 59.1% in the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 1,656 shares during the period. First Bank & Trust boosted its stake in shares of Ritchie Bros. Auctioneers by 3.8% in the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 196 shares during the period. Forward Management LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 11.0% in the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 609 shares during the period. Comerica Bank boosted its stake in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 44 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Ritchie Bros. Auctioneers by 338.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 6,257 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

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Ritchie Bros. Auctioneers Company Profile

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

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