Ritchie Bros. Auctioneers (RBA) Posts Earnings Results, Hits Estimates

Share on StockTwits

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) released its earnings results on Thursday. The business services provider reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18, Briefing.com reports. The company had revenue of $159.30 million during the quarter, compared to analysts’ expectations of $163.59 million. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS.

NYSE:RBA traded up $1.89 during trading hours on Friday, reaching $35.34. 1,157,431 shares of the company traded hands, compared to its average volume of 352,996. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 43.63, a PEG ratio of 2.34 and a beta of 0.78. Ritchie Bros. Auctioneers has a 1 year low of $24.08 and a 1 year high of $38.77. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

A number of research analysts have issued reports on RBA shares. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, August 22nd. Macquarie lifted their price objective on Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Scotiabank set a $39.00 price objective on Ritchie Bros. Auctioneers and gave the company a “hold” rating in a research note on Monday, August 13th. Finally, Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.11.

In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of Ritchie Bros. Auctioneers stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $38.24, for a total value of $506,297.60. Following the completion of the sale, the senior vice president now owns 11,278 shares of the company’s stock, valued at approximately $431,270.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in shares of Ritchie Bros. Auctioneers by 2.0% in the 2nd quarter. Baillie Gifford & Co. now owns 11,224,012 shares of the business services provider’s stock worth $382,894,000 after purchasing an additional 225,091 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Ritchie Bros. Auctioneers by 4.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,968,491 shares of the business services provider’s stock worth $287,901,000 after purchasing an additional 360,298 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Ritchie Bros. Auctioneers by 1.2% in the 2nd quarter. Janus Henderson Group PLC now owns 6,313,823 shares of the business services provider’s stock worth $215,428,000 after purchasing an additional 73,866 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Ritchie Bros. Auctioneers by 8,475.2% in the 2nd quarter. Fiera Capital Corp now owns 2,709,764 shares of the business services provider’s stock worth $92,435,000 after purchasing an additional 2,678,164 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Ritchie Bros. Auctioneers by 10.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,039,890 shares of the business services provider’s stock worth $73,701,000 after purchasing an additional 187,658 shares in the last quarter. 93.82% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Ritchie Bros. Auctioneers (RBA) Posts Earnings Results, Hits Estimates” was reported by Week Herald and is owned by of Week Herald. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://weekherald.com/2018/11/10/ritchie-bros-auctioneers-rba-posts-earnings-results-hits-estimates.html.

About Ritchie Bros. Auctioneers

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. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

Featured Article: Initial Public Offering (IPO)

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

Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply