Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Investment analysts at National Bank Financial upped their FY2018 EPS estimates for Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. National Bank Financial analyst M. Sytchev now forecasts that the business services provider will earn $1.02 per share for the year, up from their previous forecast of $1.01. National Bank Financial currently has a “Outperform” rating and a $35.00 price objective on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ FY2019 earnings at $1.35 EPS.
Several other brokerages also recently issued reports on RBA. Scotiabank upped their price objective on shares of Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Group reissued a “hold” rating and set a $26.00 price objective (down previously from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, October 10th. Bank of America reduced their price objective on shares of Ritchie Bros. Auctioneers from $22.50 to $21.50 and set an “underperform” rating on the stock in a research note on Thursday, November 16th. Raymond James Financial reduced their price objective on shares of Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating on the stock in a research note on Monday, November 13th. Finally, TD Securities reduced their price objective on shares of Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating on the stock in a research note on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and a consensus target price of $30.00.
Ritchie Bros. Auctioneers (RBA) opened at $32.10 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. The stock has a market cap of $3,440.00, a P/E ratio of 52.62, a P/E/G ratio of 3.42 and a beta of 0.63. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $35.21.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $141.05 million for the quarter, compared to analysts’ expectations of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 111.48%.
In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $28.68, for a total transaction of $154,872.00. Following the transaction, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.39% of the company’s stock.
Large investors have recently bought and sold shares of the business. Zions Bancorporation purchased a new position in Ritchie Bros. Auctioneers during the third quarter worth approximately $127,000. ETRADE Capital Management LLC purchased a new position in Ritchie Bros. Auctioneers during the third quarter worth approximately $218,000. Tower Research Capital LLC TRC raised its stake in Ritchie Bros. Auctioneers by 338.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after purchasing an additional 6,257 shares during the period. Stephens Inc. AR raised its stake in Ritchie Bros. Auctioneers by 8.4% during the second quarter. Stephens Inc. AR now owns 8,296 shares of the business services provider’s stock worth $238,000 after purchasing an additional 642 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ritchie Bros. Auctioneers by 10.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,492 shares of the business services provider’s stock worth $244,000 after purchasing an additional 836 shares during the period. 96.61% of the stock is currently owned by institutional investors.
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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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