Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Equities research analysts at Jefferies Group lowered their Q2 2017 earnings per share estimates for Ritchie Bros Auctioneers in a research note issued to investors on Monday. Jefferies Group analyst S. Volkmann now forecasts that the business services provider will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.35. Jefferies Group currently has a “Hold” rating and a $29.00 target price on the stock. Jefferies Group also issued estimates for Ritchie Bros Auctioneers’ Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.95 EPS and FY2019 earnings at $1.65 EPS.
Ritchie Bros Auctioneers (NYSE:RBA) last announced its earnings results on Tuesday, February 21st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $133.92 million. Ritchie Bros Auctioneers had a return on equity of 17.38% and a net margin of 19.91%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS.
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Other equities analysts have also issued research reports about the company. Royal Bank of Canada set a $41.00 target price on Ritchie Bros Auctioneers and gave the company a “buy” rating in a report on Saturday, April 22nd. TD Securities reissued a “sell” rating on shares of Ritchie Bros Auctioneers in a report on Tuesday. Zacks Investment Research lowered Ritchie Bros Auctioneers from a “hold” rating to a “strong sell” rating in a report on Tuesday. Scotiabank dropped their target price on Ritchie Bros Auctioneers from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Monday. Finally, William Blair reissued an “outperform” rating on shares of Ritchie Bros Auctioneers in a report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Ritchie Bros Auctioneers currently has an average rating of “Hold” and an average price target of $35.96.
Shares of Ritchie Bros Auctioneers (NYSE:RBA) opened at 31.32 on Wednesday. The firm’s 50-day moving average price is $31.81 and its 200 day moving average price is $33.76. The company has a market cap of $3.35 billion, a PE ratio of 36.85 and a beta of 0.62. Ritchie Bros Auctioneers has a 12 month low of $27.13 and a 12 month high of $39.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Tuesday, May 23rd will be paid a $0.17 dividend. The ex-dividend date is Friday, May 19th. This represents a $0.68 annualized dividend and a yield of 2.17%. Ritchie Bros Auctioneers’s dividend payout ratio is presently 66.67%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its position in Ritchie Bros Auctioneers by 1,879.5% in the third quarter. Great West Life Assurance Co. Can now owns 389,270 shares of the business services provider’s stock valued at $13,650,000 after buying an additional 369,605 shares in the last quarter. Marathon Asset Management LLP bought a new position in Ritchie Bros Auctioneers during the third quarter valued at about $26,824,000. Ameriprise Financial Inc. increased its position in Ritchie Bros Auctioneers by 256.5% in the third quarter. Ameriprise Financial Inc. now owns 536,875 shares of the business services provider’s stock valued at $18,821,000 after buying an additional 386,270 shares in the last quarter. Advisor Group Inc. increased its position in Ritchie Bros Auctioneers by 12.7% in the third quarter. Advisor Group Inc. now owns 7,129 shares of the business services provider’s stock valued at $247,000 after buying an additional 804 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Ritchie Bros Auctioneers by 1.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 373,113 shares of the business services provider’s stock valued at $13,085,000 after buying an additional 4,160 shares in the last quarter. Institutional investors own 89.55% of the company’s stock.
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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