Ritchie Bros. Auctioneers Inc. (RBA) posted second-quarter earnings of 37 cents per share, topping the Zacks Consensus Estimate by 5.7%.
Shares of this Zacks #2 Rank (“Buy”) company has advanced more than 4% so far today.
The company said auction revenues grew 4% to $120.5 million driven by a strong performance by its underwritten business.
Ritchie Bros. also announced a quarterly dividend of 10 cents per share, an increase of 11% over the previous quarterly dividend.
The full-year Zacks Consensus Estimate, derived from 14 covering analysts, is currently pegged at 88 cents per share, which has remained steady over the past 2 months.
RBA is trading on unusually high volume of approximately 1.1 million, compared to the average daily volume of about 331,000.
“RBA” Free Stock Analysis: Buy? Sell? Hold?
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