Brokers Issue Forecasts for Ritchie Bros. Auctioneers Inc’s FY2017 Earnings (RBA)
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Equities research analysts at Northcoast Research reduced their FY2017 earnings per share estimates for Ritchie Bros. Auctioneers in a report issued on Tuesday. Northcoast Research analyst J. Healy now forecasts that the company will earn $1.20 per share for the year, down from their prior estimate of $1.24. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.31 EPS.
RBA has been the topic of a number of other reports. CIBC cut Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$36.00 to C$28.00 in a research report on Monday, July 10th. Scotiabank lowered their price objective on Ritchie Bros. Auctioneers to C$41.00 and set an “outperform” rating on the stock in a research report on Monday, July 10th. TD Securities lowered their price objective on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a research report on Monday, July 10th. Raymond James Financial, Inc. lowered their price objective on Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. Finally, National Bank Financial restated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$39.50.
Ritchie Bros. Auctioneers (TSE RBA) opened at 37.45 on Thursday. The company has a market capitalization of $4.01 billion and a PE ratio of 81.06. The company’s 50-day moving average price is $37.08 and its 200 day moving average price is $39.31. Ritchie Bros. Auctioneers has a 52 week low of $34.03 and a 52 week high of $52.88.
In related news, insider Sharon Driscoll purchased 1,375 shares of the stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of C$36.17 per share, for a total transaction 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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, August 23rd.
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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