Earnings Preview: Ritchie Bros Auctioneers
Portfolio Pulse from Benzinga Insights
Ritchie Bros Auctioneers (NYSE:RBA) is scheduled to release its quarterly earnings report on February 23, 2024, with analysts estimating an EPS of $0.69. The company's past earnings performance shows a pattern of beating EPS estimates but experiencing a drop in share price the following day. Shares are currently trading at $66.68, reflecting a 10.18% increase over the last 52 weeks. Investors are looking for not only an earnings beat but also positive guidance for future growth.
February 22, 2024 | 2:00 pm
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Ritchie Bros Auctioneers is anticipated to report an EPS of $0.69 for the upcoming quarter. Historical data indicates a tendency for the stock to drop post-earnings announcement despite beating estimates.
Given the historical pattern of share price drops following earnings announcements that beat estimates, it's likely that RBA's stock might experience a short-term decline post-earnings, despite the positive year-to-date performance and analyst expectations.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100