$327.59 Million in Sales Expected for Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) This Quarter

Oct 9, 2021 | Trends & Statistics

Brokerages expect Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) to report $327.59 million in sales for the current quarter, according to Zacks Investment Research. 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 suggests a negative year-over-year growth rate of 1.2%. The business is expected to announce its next earnings report 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 year, analysts expect that the firm 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 research firms that follow Ritchie Bros. Auctioneers.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, August 4th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.06). Ritchie Bros. Auctioneers had a return on equity of 18.95% and a net margin of 12.70%. The firm had revenue of $396.36 million during the quarter, compared to the consensus estimate of $418.80 million.

Several research firms recently commented on RBA. Raymond James set a $63.00 price target on Ritchie Bros. Auctioneers and gave the stock a “market perform” rating in a research report on Tuesday, September 28th. TD Securities dropped their price target on Ritchie Bros. Auctioneers from $67.00 to $64.00 and set a “hold” rating for the company in a research report on Monday, August 16th. National Bankshares dropped their price target on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, August 9th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, National Bank Financial dropped their target price on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, August 9th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.43.

RBA opened at $63.66 on Friday. The firm has a market cap of $7.03 billion, a P/E ratio of 38.58, a P/E/G ratio of 5.41 and a beta of 1.18. Ritchie Bros. Auctioneers has a 12 month low of $50.61 and a 12 month high of $78.64. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $61.96 and a 200 day moving average of $61.20.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, August 25th were issued a $0.25 dividend. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Ritchie Bros. Auctioneers’s payout ratio is presently 59.52%.

In related news, CFO Sharon Ruth Driscoll sold 14,795 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at 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 owns 18,395 shares of the company’s stock, valued at $1,135,891.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James J. Jeter sold 7,250 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $62.90, for a total transaction of $456,025.00. The disclosure for this sale can be found here. Insiders sold 27,445 shares of company stock valued at $1,701,154 in the last quarter. 0.54% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of RBA. Korea Investment CORP increased its position in shares of Ritchie Bros. Auctioneers by 10.8% during the second 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 increased its position in shares of Ritchie Bros. Auctioneers by 3.6% during the second 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. increased its position in shares of Ritchie Bros. Auctioneers by 41.5% during the second 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. increased its position in shares of Ritchie Bros. Auctioneers by 16.9% during the second 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. increased its position in shares of Ritchie Bros. Auctioneers by 260.9% during the first 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. 80.89% of the stock is owned by institutional investors.

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.

Other Articles You May Be Interested In

Conference Announcements

Conference Announcements

We want to thank everyone who attended conference this year! We had a wonderful time and it was great seeing everyone again! Our WAA members are what makes conference so great! We made wonderful memories and shared many laughs in between CE Classes and motivational...

State Leadership Conference

State Leadership Conference

Written By: Riley Kahl March 4-5th the State Leadership Conference hosted by the National Auctioneers Association was held in Kansas City and attended by WAA board members David Allen, Gary Dufour, Riley Kahl and our membership manager Natalie Pratt. This was an...

Pin It on Pinterest

Share This