Ritchie Bros. Auctioneers Incorporated (RBA) Expected to Earn Q3 2017 Earnings of $0.15 Per Share
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Stock analysts at Northcoast Research cut their Q3 2017 earnings per share estimates for Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. Northcoast Research analyst J. Healy now anticipates that the business services provider will earn $0.15 per share for the quarter, down from their previous estimate of $0.18.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. WARNING: “Ritchie Bros. Auctioneers Incorporated (RBA) Expected to Earn Q3 2017 Earnings of $0.15 Per Share” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/04/ritchie-bros-auctioneers-incorporated-rba-expected-to-earn-q3-2017-earnings-of-0-15-per-share.html.
Several other equities research analysts have also recently issued reports on RBA. BidaskClub upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. National Bank Financial restated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 8th. CIBC cut Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective on the stock. in a report on Monday, July 10th. Finally, TD Securities decreased their price objective 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and a consensus price target of $32.82.
Shares of Ritchie Bros. Auctioneers (NYSE RBA) opened at 30.50 on Wednesday. The company has a market cap of $3.27 billion, a P/E ratio of 66.02 and a beta of 0.57. The firm has a 50-day moving average of $29.87 and a 200 day moving average of $30.16. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is presently 144.68%.
In related news, CFO Sharon Ruth Driscoll acquired 1,375 shares of the stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $29.77 per share, with a total value of $40,933.75. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $29,770. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth $175,728,000. Riverbridge Partners LLC lifted its holdings in Ritchie Bros. Auctioneers by 18.4% during the 2nd quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock worth $104,618,000 after buying an additional 565,290 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Ritchie Bros. Auctioneers by 57.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after buying an additional 1,271,836 shares during the last quarter. CGOV Asset Management lifted its holdings in Ritchie Bros. Auctioneers by 18.6% during the 1st quarter. CGOV Asset Management now owns 3,298,901 shares of the business services provider’s stock worth $144,392,000 after buying an additional 518,440 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in Ritchie Bros. Auctioneers by 87.9% during the 1st quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.
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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