Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Equities researchers at Oppenheimer Holdings cut their FY2017 earnings estimates for Ritchie Bros. Auctioneers in a report issued on Monday. Oppenheimer Holdings analyst S. Schneeberger now forecasts that the company will earn $1.09 per share for the year, down from their previous estimate of $1.23. Oppenheimer Holdings also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.25 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.49 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.34 EPS, FY2018 earnings at $1.27 EPS and FY2019 earnings at $1.46 EPS.
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A number of other research firms have also weighed in on RBA. TD Securities lowered their target price on shares of Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating on the stock in a report on Tuesday, October 10th. Raymond James Financial, Inc. decreased their price objective on shares of Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating for the company in a research note on Tuesday, October 10th. Finally, Scotiabank reiterated an “outperform” rating and issued a C$41.00 price objective on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus target price of C$38.20.
Shares of Ritchie Bros. Auctioneers (TSE:RBA) opened at C$31.93 on Tuesday. Ritchie Bros. Auctioneers has a fifty-two week low of C$30.63 and a fifty-two week high of C$52.88.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be paid a $0.219 dividend. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, November 28th. This represents a $0.88 annualized dividend and a yield of 2.74%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 87.18%.
In other news, insider Sharon Driscoll acquired 1,375 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of C$36.17 per share, for a total transaction of C$49,733.75.
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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