Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Analysts at National Bank Financial lowered their Q3 2017 earnings per share (EPS) estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. National Bank Financial analyst M. Sytchev now anticipates that the business services provider will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.21. National Bank Financial currently has a “Sector Perform” rating and a $30.00 target price on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.28 EPS and FY2018 earnings at $1.19 EPS.
A number of other brokerages have also weighed in on RBA. Jefferies Group LLC reiterated a “hold” rating and set a $29.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Friday, May 5th. Zacks Investment Research lowered Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. CIBC lowered Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective for the company. in a research note on Monday, July 10th. TD Securities reaffirmed a “sell” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, May 9th. Finally, Royal Bank Of Canada dropped their target price on shares of Ritchie Bros. Auctioneers from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, May 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $33.46.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 27.90 on Thursday. Ritchie Bros. Auctioneers has a 12 month low of $26.68 and a 12 month high of $39.96. The company’s 50 day moving average price is $28.24 and its 200-day moving average price is $30.85. The stock has a market capitalization of $2.98 billion, a P/E ratio of 41.03 and a beta of 0.55.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.82% and a net margin of 8.96%. Ritchie Bros. Auctioneers’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio is 144.68%.
Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Ritchie Bros. Auctioneers by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,679 shares of the business services provider’s stock valued at $3,457,000 after buying an additional 13,004 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Ritchie Bros. Auctioneers by 2.4% in the first quarter. Bank of Montreal Can now owns 770,094 shares of the business services provider’s stock valued at $25,337,000 after buying an additional 17,930 shares in the last quarter. CGOV Asset Management boosted its stake in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter valued at about $290,000. Finally, Granite Investment Partners LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 88.5% in the first quarter. Granite Investment Partners LLC now owns 55,499 shares of the business services provider’s stock valued at $1,826,000 after buying an additional 26,063 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.
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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