Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Stock analysts at Northcoast Research boosted their FY2018 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a report issued on Wednesday. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings of $1.01 per share for the year, up from their previous estimate of $0.98.
A number of other brokerages also recently weighed in on RBA. Scotiabank set a $34.00 price objective on Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a research report on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and set a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Jefferies Group reaffirmed a “hold” rating and set a $26.00 price objective (down previously from $29.00) on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, October 10th. TD Securities dropped their price objective on Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating on the stock in a research report on Tuesday, October 10th. Finally, Raymond James Financial dropped their price objective on Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $29.45.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The business had revenue of $141.05 million during the quarter, compared to analyst estimates of $139.96 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Trust Group LLC acquired a new stake in Ritchie Bros. Auctioneers in the third quarter worth about $3,621,000. Zions Bancorporation acquired a new position in Ritchie Bros. Auctioneers during the third quarter worth $127,000. Grandeur Peak Global Advisors LLC boosted its stake in Ritchie Bros. Auctioneers by 10.5% during the third quarter. Grandeur Peak Global Advisors LLC now owns 657,275 shares of the business services provider’s stock worth $20,783,000 after buying an additional 62,600 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Ritchie Bros. Auctioneers by 3.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 120,328 shares of the business services provider’s stock valued at $3,805,000 after purchasing an additional 3,727 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Ritchie Bros. Auctioneers by 51.3% in the 3rd quarter. Mackenzie Financial Corp now owns 1,468,435 shares of the business services provider’s stock valued at $46,432,000 after purchasing an additional 497,750 shares during the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.
In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $28.68, for a total value of $154,872.00. Following the completion of the sale, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 111.48%.
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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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