Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Equities researchers at Northcoast Research lowered their FY2019 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a research report issued on Monday, March 4th. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $1.20 for the year, down from their prior estimate of $1.30. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ FY2020 earnings at $1.54 EPS.
RBA has been the topic of several other research reports. OTR Global raised Ritchie Bros. Auctioneers to a “positive” rating in a research note on Monday, February 4th. Bank of America set a $35.00 price target on Ritchie Bros. Auctioneers and gave the company a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Saturday, January 19th. ValuEngine raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research note on Wednesday, December 26th. Finally, TD Securities upped their price objective on Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the company a “reduce” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.11%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 66.67%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Ritchie Bros. Auctioneers by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 10,419 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 3,673 shares during the last quarter. Norges Bank bought a new stake in Ritchie Bros. Auctioneers in the fourth quarter valued at about $45,133,000. Dimensional Fund Advisors LP increased its holdings in Ritchie Bros. Auctioneers by 35.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 43,418 shares of the business services provider’s stock valued at $1,421,000 after purchasing an additional 11,467 shares during the last quarter. Legal & General Group Plc increased its holdings in Ritchie Bros. Auctioneers by 22.6% in the fourth quarter. Legal & General Group Plc now owns 30,714 shares of the business services provider’s stock valued at $1,005,000 after purchasing an additional 5,653 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in Ritchie Bros. Auctioneers in the fourth quarter valued at about $15,813,000. Institutional investors and hedge funds own 91.74% of the company’s stock.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved 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.
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