Ritchie Bros. Auctioneers Inc Forecasted to Post FY2019 Earnings of $1.20 Per Share (NYSE:RBA)

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Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Northcoast Research lowered their FY2019 EPS estimates for Ritchie Bros. Auctioneers in a report issued on Monday, November 11th. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings per share of $1.20 for the year, down from their prior estimate of $1.23. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2019 earnings at $0.32 EPS and FY2020 earnings at $1.45 EPS.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.55 million. Ritchie Bros. Auctioneers had a return on equity of 15.88% and a net margin of 9.90%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share.

A number of other equities research analysts have also recently weighed in on RBA. ValuEngine cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. TD Securities lifted their price target on Ritchie Bros. Auctioneers from $30.00 to $31.00 and gave the company a “reduce” rating in a report on Monday. Robert W. Baird lifted their price target on Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Bank of America lifted their price target on Ritchie Bros. Auctioneers from $32.00 to $33.50 and gave the company an “underperform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.38.

RBA opened at $41.54 on Tuesday. The business’s 50 day moving average is $40.10 and its 200-day moving average is $36.85. The stock has a market cap of $4.52 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 4.60 and a beta of 0.69. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.80. Ritchie Bros. Auctioneers has a twelve month low of $30.76 and a twelve month high of $42.97.

A number of institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Ritchie Bros. Auctioneers by 15.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,375,826 shares of the business services provider’s stock valued at $453,895,000 after purchasing an additional 1,543,300 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Ritchie Bros. Auctioneers by 101.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock worth $153,000 after acquiring an additional 1,934 shares during the period. GW&K Investment Management LLC raised its holdings in Ritchie Bros. Auctioneers by 13.8% in the 3rd quarter. GW&K Investment Management LLC now owns 2,043,635 shares of the business services provider’s stock worth $81,541,000 after acquiring an additional 248,524 shares during the period. Carillon Tower Advisers Inc. raised its holdings in Ritchie Bros. Auctioneers by 2.5% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 2,685,399 shares of the business services provider’s stock worth $107,148,000 after acquiring an additional 64,511 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Ritchie Bros. Auctioneers by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,697,097 shares of the business services provider’s stock worth $147,510,000 after acquiring an additional 53,644 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.

In related news, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total transaction of $89,633.07. Following the transaction, the insider now owns 5,626 shares in the company, valued at $221,270.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Donald Wohler sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.80, for a total transaction of $79,600.00. Following the transaction, the insider now owns 11,919 shares in the company, valued at approximately $474,376.20. The disclosure for this sale can be found here. Insiders have sold 8,707 shares of company stock worth $344,867 in the last quarter. Company insiders own 1.60% of the company’s stock.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.

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

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