Reports Strong First-Quarter Financial Results Ritchie Bros. Auctioneers (NYSE:RBA)

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

Ritchie Bros. Auctioneers Incorporated is expected* to report earnings on 11/05/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.3. The reported EPS for the same quarter last year was $0.23.

Ritchie Bros. Auctioneers last released its earnings results on August 6th, 2020. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.18. The company had revenue of $389.05 million for the quarter, compared to analyst estimates of $344.20 million. Its quarterly revenue was down 1.1% on a year-over-year basis. Ritchie Bros. Auctioneers has generated $1.33 earnings per share over the last year and currently has a price-to-earnings ratio of 47.9. Ritchie Bros. Auctioneers has confirmed that its next quarterly earnings report will be published on Thursday, November 5th, 2020.

Analyst Opinion on Ritchie Bros. Auctioneers (NYSE:RBA)

9 Wall Street analysts have issued ratings and price targets for Ritchie Bros. Auctioneers in the last 12 months. Their average twelve-month price target is $49.75, predicting that the stock has a possible downside of 25.75%. The high price target for RBA is $65.00 and the low price target for RBA is $42.50. There are currently 1 sell rating, 4 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Ritchie Bros. Auctioneers has received a consensus rating of Hold. The company’s average rating score is 2.33, and is based on 4 buy ratings, 4 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $49.75, Ritchie Bros. Auctioneers has a forecasted downside of 25.7% from its current price of $67.00. Ritchie Bros. Auctioneers has only been the subject of 4 research reports in the past 90 days.

Dividend Strength: Ritchie Bros. Auctioneers (NYSE:RBA)

Ritchie Bros. Auctioneers has a dividend yield of 1.36%, which is in the bottom 25% of all stocks that pay dividends. Ritchie Bros. Auctioneers has only been increasing its dividend for 2 years. The dividend payout ratio of Ritchie Bros. Auctioneers is 66.17%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Ritchie Bros. Auctioneers will have a dividend payout ratio of 51.16% next year. This indicates that Ritchie Bros. Auctioneers will be able to sustain or increase its dividend.

Insiders buying/selling: Ritchie Bros. Auctioneers (NYSE:RBA)

In the past three months, Ritchie Bros. Auctioneers insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,756,789.00 in company stock. Only 0.83% of the stock of Ritchie Bros. Auctioneers is held by insiders. 84.43% of the stock of Ritchie Bros. Auctioneers is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Ritchie Bros. Auctioneers (NYSE:RBA

Earnings for Ritchie Bros. Auctioneers are expected to grow by 13.91% in the coming year, from $1.51 to $1.72 per share. The P/E ratio of Ritchie Bros. Auctioneers is 47.86, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.27. The P/E ratio of Ritchie Bros. Auctioneers is 47.86, which means that it is trading at a more expensive P/E ratio than the Business Services sector average P/E ratio of about 39.24. Ritchie Bros. Auctioneers has a PEG Ratio of 5.90. PEG Ratios above 1 indicate that a company could be overvalued. Ritchie Bros. Auctioneers has a P/B Ratio of 8.07. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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