Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Investment analysts at Oppenheimer Holdings decreased their FY2017 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a research note issued to investors on Monday. Oppenheimer Holdings analyst S. Schneeberger now expects that the business services provider will earn $0.86 per share for the year, down from their prior estimate of $0.97. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $1.00 EPS and FY2019 earnings at $1.15 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The business had revenue of $141.05 million for the quarter, compared to analyst estimates of $139.96 million. During the same period in the prior year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis.
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RBA has been the subject of a number of other reports. Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a report on Friday, October 20th. Royal Bank Of Canada set a $40.00 price target on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Wednesday, August 9th. TD Securities dropped their price target on Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating for the company in a report on Tuesday, October 10th. BidaskClub cut Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Raymond James Financial, Inc. dropped their price target on Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.06.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at $25.04 on Tuesday. Ritchie Bros. Auctioneers has a twelve month low of $24.08 and a twelve month high of $39.96. The firm 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 current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend 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 currently 111.48%.
In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of the stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $29.77 per share, with a total value of $40,933.75. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $29,770. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBA. Zions Bancorporation acquired a new stake in shares of Ritchie Bros. Auctioneers in the 3rd quarter valued at $127,000. Lloyds Banking Group plc grew its stake in shares of Ritchie Bros. Auctioneers by 59.1% during the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after purchasing an additional 1,656 shares during the period. First Bank & Trust grew its stake in shares of Ritchie Bros. Auctioneers by 3.8% during the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after purchasing an additional 196 shares during the period. Forward Management LLC grew its stake in shares of Ritchie Bros. Auctioneers by 11.0% during the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after purchasing an additional 609 shares during the period. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the third quarter worth $218,000. 96.01% of the stock is owned by institutional investors.
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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