Northcoast Research Research Analysts Decrease Earnings Estimates for Ritchie Bros. Auctioneers Inc (RBA)
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Equities researchers at Northcoast Research dropped their Q3 2017 earnings estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Tuesday. Northcoast Research analyst J. Healy now anticipates that the company will post earnings of $0.19 per share for the quarter, down from their prior estimate of $0.23.
Several other analysts have also recently issued reports on the stock. Scotiabank reissued an “outperform” rating and set a C$41.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Raymond James Financial, Inc. dropped their price objective on shares of Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating for the company in a report on Tuesday, July 11th. TD Securities cut their target price on shares of Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a research note on Monday, July 10th. CIBC downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$36.00 to C$28.00 in a research note on Monday, July 10th. Finally, National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and a consensus target price of C$39.50.
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Shares of Ritchie Bros. Auctioneers (TSE:RBA) opened at 38.09 on Wednesday. The company’s 50-day moving average is $37.05 and its 200-day moving average is $39.32. The stock has a market capitalization of $4.08 billion and a PE ratio of 82.45. Ritchie Bros. Auctioneers has a 12 month low of $34.03 and a 12 month high of $52.88.
In related news, insider Sharon Driscoll purchased 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction on Thursday, September 7th. The shares were bought at an average price of C$36.17 per share, with a total value of C$49,733.75.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 1.79%.
Ritchie Bros. Auctioneers Company Profile
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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