Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Stock analysts at Northcoast Research dropped their FY2017 earnings per share (EPS) estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Monday. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings of $0.90 per share for the year, down from their previous forecast of $0.96. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ FY2018 earnings at $0.98 EPS.
Several other equities research analysts have also recently issued reports on RBA. BidaskClub cut Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. TD Securities cut their target price on Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a research note on Wednesday, August 9th. National Bank Financial cut their target price on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 9th. Finally, Scotiabank upped their target price on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.06.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at $25.04 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.20 and a quick ratio of 1.11. The stock has a market capitalization of $2,680.00, a P/E ratio of 30.19, a P/E/G ratio of 2.93 and a beta of 0.66. Ritchie Bros. Auctioneers has a 12 month low of $24.08 and a 12 month high of $39.96.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $141.05 million during the quarter, compared to analyst estimates of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS.
Several institutional investors and hedge funds have recently modified their holdings of RBA. Janus Henderson Group PLC acquired a new stake in shares of Ritchie Bros. Auctioneers in the 2nd quarter valued at about $175,728,000. Mondrian Investment Partners LTD lifted its position in Ritchie Bros. Auctioneers by 35.9% in the 3rd quarter. Mondrian Investment Partners LTD now owns 3,763,686 shares of the business services provider’s stock valued at $148,477,000 after acquiring an additional 994,240 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Ritchie Bros. Auctioneers by 148.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock valued at $35,631,000 after acquiring an additional 750,038 shares in the last quarter. Marathon Asset Management LLP lifted its position in Ritchie Bros. Auctioneers by 54.9% in the 3rd quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock valued at $56,645,000 after acquiring an additional 636,529 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its position in Ritchie Bros. Auctioneers by 18.4% in the 2nd quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after acquiring an additional 565,290 shares in the last quarter. Institutional investors own 96.01% of the company’s stock.
In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $29.77 per share, for a total transaction of $40,933.75. Following the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $29,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.72%. Ritchie Bros. Auctioneers’s payout ratio is currently 111.48%.
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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