Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Northcoast Research boosted their Q3 2016 earnings per share estimates for Ritchie Bros. Auctioneers in a note issued to investors on Monday. Northcoast Research analyst J. Healy now expects that the brokerage will earn $0.24 per share for the quarter, up from their previous estimate of $0.21. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ FY2016 earnings at $1.25 EPS and FY2017 earnings at $1.31 EPS.

Ritchie Bros. Auctioneers (NYSE:RBA) last issued its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The firm earned $158.80 million during the quarter, compared to analyst estimates of $160.96 million. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share.

Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

Other analysts also recently issued reports about the stock. Jefferies Group boosted their price target on shares of Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Saturday, September 3rd. BMO Capital Markets reissued a “market perform” rating and issued a $38.00 price target (up from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Thursday, September 1st. OTR Global reissued a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 22nd. Finally, Bank of America Corp. raised shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $32.55.

Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 35.58 on Wednesday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 27.86 and a beta of 0.48. Ritchie Bros. Auctioneers has a 52 week low of $21.03 and a 52 week high of $37.23. The stock has a 50 day moving average price of $33.12 and a 200 day moving average price of $31.59.

Institutional investors have recently modified their holdings of the stock. AGF Investments Inc. increased its position in shares of Ritchie Bros. Auctioneers by 121.1% in the second quarter. AGF Investments Inc. now owns 2,947 shares of the company’s stock valued at $100,000 after buying an additional 1,614 shares during the period. FineMark National Bank & Trust increased its position in shares of Ritchie Bros. Auctioneers by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,158 shares of the company’s stock valued at $141,000 after buying an additional 97 shares during the period. Barclays PLC purchased a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at approximately $177,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at approximately $202,000. Finally, Advisor Group Inc. purchased a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at approximately $212,000. 86.29% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $34.00, for a total transaction of $224,400.00. Following the completion of the transaction, the vice president now directly owns 6,600 shares of the company’s stock, valued at $224,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.91%. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio is 53.97%.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.

5 Day Chart for NYSE:RBA

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