Brokers Offer Predictions for Ritchie Bros. Auctioneers Inc.’s Q3 2016 Earnings (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Analysts at KeyCorp upped their Q3 2016 earnings estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Sunday. KeyCorp analyst J. Box now expects that the brokerage will earn $0.21 per share for the quarter, up from their previous estimate of $0.18. KeyCorp has a “Overweight” rating and a $34.00 price objective on the stock. KeyCorp also issued estimates for Ritchie Bros. Auctioneers’ FY2016 earnings at $1.18 EPS, Q1 2017 earnings at $0.28 EPS, Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $1.34 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.44 by $0.07. The company had revenue of $158.80 million for the quarter, compared to analyst estimates of $160.96 million. Ritchie Bros. Auctioneers had a return on equity of 16.55% and a net margin of 25.39%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “buy” rating to a “sell” rating in a report on Wednesday, July 13th. Jefferies Group cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. OTR Global restated a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. TD Securities restated a “reduce” rating and set a $26.00 price target on shares of Ritchie Bros. Auctioneers in a report on Saturday, August 13th. Finally, Macquarie assumed coverage on Ritchie Bros. Auctioneers in a report on Thursday, August 25th. They set an “outperform” rating and a $34.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.95.
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Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.126% during mid-day trading on Wednesday, hitting $35.545. 70,651 shares of the stock traded hands. Ritchie Bros. Auctioneers has a 52 week low of $21.03 and a 52 week high of $37.23. The firm’s 50-day moving average is $33.81 and its 200-day moving average is $31.84. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 27.835 and a beta of 0.48.
Large investors have recently modified their holdings of the company. AGF Investments Inc. raised its stake in shares of Ritchie Bros. Auctioneers by 121.1% in the second quarter. AGF Investments Inc. now owns 2,947 shares of the company’s stock worth $100,000 after buying an additional 1,614 shares in the last quarter. FineMark National Bank & Trust raised its stake in shares of Ritchie Bros. Auctioneers by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,158 shares of the company’s stock worth $141,000 after buying an additional 97 shares during the period. Barclays PLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $177,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $202,000. Finally, Advisor Group Inc. purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $212,000. 86.29% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $34.00, for a total transaction of $224,400.00. Following the completion of the sale, the vice president now directly owns 6,600 shares of the company’s stock, valued at approximately $224,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.67% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were paid a dividend of $0.17 per share. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 53.97%.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
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