Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) is set to announce third quarter earning results on Thursday 5th November 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, RBA to report 3Q20 income of $ 0.30 per share.
For the full year, analysts anticipate top line of $ 1318.09 million, while looking forward to income of $ 1.53 per share bottom line.
Previous Quarter Performance
Ritchie Bros. Auctioneers Incorporated communicated income for the second quarter of $ 0.54 per share, from the revenue of $ 389.05 million. The quarterly earnings improved 10.20 percent while revenues fell 1.06 percent compared with the same quarter last year.
According to street consensus, RBA was expected to report 2Q20 income of $ 0.36 per share from revenue of $ 343.67 million. The bottom line results beat street analysts by $ 0.18 or 50.00 percent, at the same time, top line results outshined analysts by $ 45.38 million or 13.20 percent.
Stock Performance
Shares of Ritchie Bros. Auctioneers Incorporated traded up $ 2.28 or 3.52 percent on Wednesday, reaching $ 67.00 with volume of 614.30 thousand shares. Ritchie Bros. Auctioneers Incorporated has traded high as $ 67.09 and has cracked $ 63.88 on the downward trend
The closing price of $ 67.00, representing a 149.69 % increase from the 52 week low of $ 25.92 and a 3.53 % decrease over the 52 week high of $ 67.09.
The company has a market capital of $ 7.24 billion and is part of the Industrials sector and Business Services industry.
Recent Analyst recommendations
- On 16th October 2020, maintained by TD Securities at Hold rating, with $ 65.00 target price.
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.
