Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Analysts at National Bank Financial reduced their Q3 2017 earnings estimates for shares of Ritchie Bros. Auctioneers in a research note issued to investors on Thursday. National Bank Financial analyst M. Sytchev now forecasts that the business services provider will earn $0.14 per share for the quarter, down from their prior estimate of $0.18. National Bank Financial has a “Sector Perform” rating and a $30.00 price target on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ FY2017 earnings at $0.88 EPS.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million during the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share.

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Other equities analysts have also issued reports about the company. Raymond James Financial, Inc. cut their target price on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a report on Tuesday, July 11th. TD Securities cut their target price on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating on the stock in a report on Monday, July 10th. BidaskClub upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Scotiabank raised their target price on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “hold” rating and set a $29.00 target price on shares of Ritchie Bros. Auctioneers in a report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus price target of $32.80.

Shares of Ritchie Bros. Auctioneers (NYSE RBA) opened at 29.83 on Monday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 64.57 and a beta of 0.57. The firm’s 50-day moving average price is $28.51 and its 200 day moving average price is $30.40. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.

In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the stock in a transaction dated Friday, August 25th. The shares were bought at an average cost of $28.59 per share, with a total value of $28,590.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $28,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. grew its position in Ritchie Bros. Auctioneers by 9.5% during the second quarter. 1st Global Advisors Inc. now owns 10,345 shares of the business services provider’s stock worth $297,000 after buying an additional 895 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its position in Ritchie Bros. Auctioneers by 22.3% during the second quarter. Grandeur Peak Global Advisors LLC now owns 594,675 shares of the business services provider’s stock worth $17,091,000 after buying an additional 108,350 shares in the last quarter. Bank of Nova Scotia grew its position in Ritchie Bros. Auctioneers by 101.6% during the second quarter. Bank of Nova Scotia now owns 30,226 shares of the business services provider’s stock worth $869,000 after buying an additional 15,236 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Ritchie Bros. Auctioneers by 338.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after buying an additional 6,257 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Ritchie Bros. Auctioneers by 344.7% during the second quarter. The Manufacturers Life Insurance Company now owns 428,931 shares of the business services provider’s stock worth $12,303,000 after buying an additional 332,484 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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