Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Analysts at Northcoast Research boosted their FY2018 EPS estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday, April 3rd. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $1.01 per share for the year, up from their previous forecast of $0.98. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ FY2019 earnings at $1.15 EPS.
A number of other brokerages have also commented on RBA. National Bank Financial raised their price target on Ritchie Bros. Auctioneers from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Scotiabank raised their price target on Ritchie Bros. Auctioneers from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Raymond James Financial raised their price target on Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Zacks Investment Research lowered Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, TheStreet raised Ritchie Bros. Auctioneers from a “c” rating to a “b-” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.10.
Shares of RBA opened at $31.64 on Thursday. The firm has a market cap of $3,467.90, a PE ratio of 39.06, a price-to-earnings-growth ratio of 3.28 and a beta of 0.69. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 1.06. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $35.17.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Monday, February 26th. The business services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $178.80 million for the quarter, compared to analyst estimates of $171.97 million. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share.
A number of large investors have recently added to or reduced their stakes in RBA. Zions Bancorporation acquired a new position in Ritchie Bros. Auctioneers during the third quarter worth about $127,000. Comerica Bank acquired a new position in Ritchie Bros. Auctioneers during the fourth quarter worth about $217,000. ETRADE Capital Management LLC acquired a new position in Ritchie Bros. Auctioneers during the third quarter worth about $218,000. Jane Street Group LLC acquired a new position in Ritchie Bros. Auctioneers during the fourth quarter worth about $323,000. Finally, LPL Financial LLC grew its holdings in Ritchie Bros. Auctioneers by 38.3% during the fourth quarter. LPL Financial LLC now owns 10,885 shares of the business services provider’s stock worth $326,000 after acquiring an additional 3,017 shares during the period.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, February 15th. Ritchie Bros. Auctioneers’s payout ratio is currently 83.95%.
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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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