Rocky Mountain Dealerships (RME) Price Target Cut to C$11.50 by Analysts at Raymond James

Rocky Mountain Dealerships (TSE:RME) had its target price lowered by Raymond James from C$12.00 to C$11.50 in a research note released on Thursday morning. The brokerage currently has an outperform rating on the stock.

Separately, CIBC dropped their price target on shares of Rocky Mountain Dealerships from C$11.50 to C$10.50 in a research report on Tuesday, January 15th.

TSE:RME opened at C$8.90 on Thursday. Rocky Mountain Dealerships has a 12-month low of C$8.19 and a 12-month high of C$12.83. The company has a debt-to-equity ratio of 216.80, a current ratio of 1.36 and a quick ratio of 0.12. The stock has a market capitalization of $175.01 million and a P/E ratio of 9.89.

Rocky Mountain Dealerships (TSE:RME) last posted its quarterly earnings results on Wednesday, March 13th. The company reported C$0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.33. The business had revenue of C$295.42 million during the quarter, compared to analyst estimates of C$298.20 million. Equities analysts predict that Rocky Mountain Dealerships will post 1.23000006080899 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.123 per share. This is a positive change from Rocky Mountain Dealerships’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, March 14th. This represents a $0.49 annualized dividend and a dividend yield of 5.53%. Rocky Mountain Dealerships’s dividend payout ratio (DPR) is presently 54.44%.

About Rocky Mountain Dealerships

Rocky Mountain Dealerships Inc, through its subsidiaries, sells, leases, and provides support services for new and used agriculture and industrial equipment primarily in Canada and the United States. The company primarily provides utility tractors, harvesters, sprayers, articulated 4WD tractors, skid steer loaders, excavators, wheel loaders, and equipment for maintaining barns and feedlots.

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