Brokers Offer Predictions for Ritchie Bros. Auctioneers Inc.’s Q3 2016 Earnings (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Investment analysts at KeyCorp lifted their Q3 2016 EPS estimates for shares of Ritchie Bros. Auctioneers in a report released on Sunday. KeyCorp analyst J. Box now forecasts that the brokerage will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.18. KeyCorp has a “Overweight” rating and a $34.00 price objective on the stock. KeyCorp also issued estimates for Ritchie Bros. Auctioneers’ FY2016 earnings at $1.18 EPS, Q1 2017 earnings at $0.28 EPS, Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $1.34 EPS.
Other analysts have also recently issued reports about the stock. Jefferies Group upped 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 report 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 report on Saturday, September 3rd. Bank of America Corp. reaffirmed a “hold” rating and set a $37.50 price target on shares of Ritchie Bros. Auctioneers in a research report on Monday. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of Ritchie Bros. Auctioneers in a research report on Thursday, September 1st. Finally, OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $33.95.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.126% during trading on Wednesday, hitting $35.545. The company’s stock had a trading volume of 70,651 shares. Ritchie Bros. Auctioneers has a one year low of $21.03 and a one year high of $37.23. The company has a 50-day moving average price of $33.81 and a 200-day moving average price of $31.84. The stock has a market cap of $3.79 billion, a PE ratio of 27.835 and a beta of 0.48.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.07. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The firm had revenue of $158.80 million for the quarter, compared to analyst estimates of $160.96 million. During the same period in the previous year, the company earned $0.43 EPS. Ritchie Bros. Auctioneers’s revenue was up 2.1% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, August 31st. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. Ritchie Bros. Auctioneers’s dividend payout ratio is 53.97%.
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 value of $224,400.00. Following the sale, the vice president now owns 6,600 shares in the company, valued at approximately $224,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.67% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in Ritchie Bros. Auctioneers by 3.1% in the first quarter. Primecap Management Co. CA now owns 7,331,480 shares of the company’s stock valued at $198,536,000 after buying an additional 223,300 shares during the period. Janus Capital Management LLC raised its stake in Ritchie Bros. Auctioneers by 4.5% in the second quarter. Janus Capital Management LLC now owns 5,867,441 shares of the company’s stock valued at $198,202,000 after buying an additional 251,789 shares during the period. Neuberger Berman Group LLC raised its stake in Ritchie Bros. Auctioneers by 16.1% in the second quarter. Neuberger Berman Group LLC now owns 1,973,102 shares of the company’s stock valued at $66,651,000 after buying an additional 273,300 shares during the period. GW&K Investment Management LLC raised its stake in Ritchie Bros. Auctioneers by 2.1% in the second quarter. GW&K Investment Management LLC now owns 1,941,974 shares of the company’s stock valued at $65,600,000 after buying an additional 40,651 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at $60,930,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
About Ritchie Bros. Auctioneers
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.
Receive News & Stock Ratings for Ritchie Bros. Auctioneers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Inc. and related stocks with our FREE daily email newsletter.