Ritchie Bros. Auctioneers Incorporated Announces Quarterly Dividend of $0.25 (NYSE:RBA)

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Thursday, January 13th, Zacks reports. Investors of record on Friday, February 11th will be paid a dividend of 0.25 per share by the business services provider on Friday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, February 10th.

Ritchie Bros. Auctioneers has increased its dividend by 34.3% over the last three years and has increased its dividend every year for the last 4 years. Ritchie Bros. Auctioneers has a payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ritchie Bros. Auctioneers to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 49.8%.

Shares of RBA stock opened at $62.37 on Friday. The stock has a 50-day moving average price of $66.16 and a 200 day moving average price of $63.36. The company has a quick ratio of 1.12, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 4.31 and a beta of 1.13. Ritchie Bros. Auctioneers has a 12 month low of $50.61 and a 12 month high of $76.18.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 4th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.12. Ritchie Bros. Auctioneers had a return on equity of 18.57% and a net margin of 11.81%. The firm had revenue of $329.70 million for the quarter, compared to analysts’ expectations of $324.38 million. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Ritchie Bros. Auctioneers will post 1.6 earnings per share for the current fiscal year.

In related news, CMO Matthew Ackley sold 1,500 shares of the business’s stock in a transaction on Wednesday, December 8th. The stock was sold at an average price of $70.97, for a total value of $106,455.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James J. Jeter sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 21st. The shares were sold at an average price of $60.99, for a total value of $121,980.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Ritchie Bros. Auctioneers stock. LPL Financial LLC increased its holdings in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,988 shares of the business services provider’s stock after purchasing an additional 2,415 shares during the period. LPL Financial LLC’s holdings in Ritchie Bros. Auctioneers were worth $1,047,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.

Several equities analysts have recently weighed in on RBA shares. Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Wednesday, November 24th. TD Securities upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and cut their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 6th. OTR Global restated a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, November 2nd. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Wednesday, November 10th. Finally, Raymond James boosted their price target on Ritchie Bros. Auctioneers from $63.00 to $74.00 and gave the stock a “market perform” rating in a research report on Monday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and a consensus target price of $64.83.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.

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Dividend History for Ritchie Bros. Auctioneers (NYSE:RBA)

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