Q2 2018 EPS Estimates for Ritchie Bros. Auctioneers Inc (RBA) Boosted by Jefferies Group


Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Analysts at Jefferies Group boosted their Q2 2018 earnings estimates for Ritchie Bros. Auctioneers in a report issued on Monday, April 9th. Jefferies Group analyst S. Volkmann now expects that the business services provider will earn $0.39 per share for the quarter, up from their prior forecast of $0.37. Jefferies Group has a “Hold” rating and a $30.00 price target on the stock. Jefferies Group also issued estimates for Ritchie Bros. Auctioneers’ Q3 2018 earnings at $0.16 EPS.


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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, February 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Ritchie Bros. Auctioneers had a net margin of 12.29% and a return on equity of 12.15%. The business had revenue of $178.80 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year.


Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Bank of America raised their price target on shares of Ritchie Bros. Auctioneers from $21.50 to $30.00 and gave the company an “underperform” rating in a research report on Thursday, February 1st. TheStreet raised shares of Ritchie Bros. Auctioneers from a “c” rating to a “b-” rating in a research report on Thursday, March 1st. Scotiabank raised their price target on shares of Ritchie Bros. Auctioneers from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Raymond James Financial raised their price target on shares of Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.10.


Shares of NYSE RBA opened at $32.65 on Thursday. Ritchie Bros. Auctioneers has a fifty-two week low of $24.08 and a fifty-two week high of $35.17. The stock has a market capitalization of $3,531.30, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 1.06.

Several institutional investors have recently bought and sold shares of RBA. Burgundy Asset Management Ltd. lifted its position in shares of Ritchie Bros. Auctioneers by 37.1% during the 4th quarter. Burgundy Asset Management Ltd. now owns 6,190,152 shares of the business services provider’s stock worth $185,271,000 after buying an additional 1,674,728 shares in the last quarter. Riverbridge Partners LLC lifted its position in shares of Ritchie Bros. Auctioneers by 44.2% during the 4th quarter. Riverbridge Partners LLC now owns 4,953,033 shares of the business services provider’s stock worth $148,244,000 after buying an additional 1,517,172 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in shares of Ritchie Bros. Auctioneers during the 4th quarter worth approximately $32,607,000. Virtus Fund Advisers LLC bought a new position in shares of Ritchie Bros. Auctioneers during the 4th quarter worth approximately $27,803,000. Finally, Independent Franchise Partners LLP bought a new position in shares of Ritchie Bros. Auctioneers during the 4th quarter worth approximately $18,349,000.


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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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