Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Investment analysts at National Bank Financial dropped their FY2017 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a research note issued to investors on Sunday. National Bank Financial analyst M. Sytchev now forecasts that the business services provider will post earnings of $0.72 per share for the year, down from their previous forecast of $0.88. National Bank Financial currently has a “Sector Perform” rating and a $28.00 target price on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.20 EPS, FY2018 earnings at $1.01 EPS and FY2019 earnings at $1.13 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). The company had revenue of $141.05 million for the quarter, compared to the consensus estimate of $139.96 million. Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. Ritchie Bros. Auctioneers’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share. COPYRIGHT VIOLATION WARNING: “National Bank Financial Comments on Ritchie Bros. Auctioneers Incorporated’s FY2017 Earnings (RBA)” was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.themarketsdaily.com/2017/11/15/national-bank-financial-comments-on-ritchie-bros-auctioneers-incorporateds-fy2017-earnings-rba.html.
Several other research analysts have also recently issued reports on the company. TD Securities decreased their price target on Ritchie Bros. Auctioneers from $23.00 to $22.00 and set a “reduce” rating for the company in a research note on Monday. Raymond James Financial, Inc. decreased their price target on Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating for the company in a research note on Monday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday. Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and an average price target of $30.06.
Ritchie Bros. Auctioneers (NYSE:RBA) opened at $25.04 on Tuesday. The company has a market capitalization of $2,680.00, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.93 and a beta of 0.66. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. Ritchie Bros. Auctioneers has a 52 week low of $24.08 and a 52 week high of $39.96.
Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter valued at $175,728,000. Mondrian Investment Partners LTD lifted its holdings in shares of Ritchie Bros. Auctioneers by 35.9% during the third quarter. Mondrian Investment Partners LTD now owns 3,763,686 shares of the business services provider’s stock valued at $148,477,000 after purchasing an additional 994,240 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 148.2% during the second quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock valued at $35,631,000 after purchasing an additional 750,038 shares during the last quarter. Marathon Asset Management LLP lifted its holdings in shares of Ritchie Bros. Auctioneers by 54.9% during the third quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock valued at $56,645,000 after purchasing an additional 636,529 shares during the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in shares of Ritchie Bros. Auctioneers by 18.4% during the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after purchasing an additional 565,290 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.
In other news, CFO Sharon Ruth Driscoll acquired 1,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $28,590. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.72%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 111.48%.
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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