Ritchie Bros. Auctioneers Inc. (rba) Announces $0.17 Quarterly Dividend
Ritchie Bros. Auctioneers Inc. (NYSE:rba) announced a quarterly dividend on Thursday, November 10th. Stockholders of record on Monday, November 28th will be given a dividend of 0.17 per share on Monday, December 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, November 23rd.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 37.18 on Friday. Ritchie Bros. Auctioneers has a one year low of $21.03 and a one year high of $37.74. The company’s 50 day moving average price is $35.05 and its 200 day moving average price is $32.93. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 29.12 and a beta of 0.62.
Ritchie Bros. Auctioneers (NYSE:RBA) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.01. The company earned $128.90 million during the quarter, compared to analyst estimates of $121.06 million. Ritchie Bros. Auctioneers had a net margin of 19.91% and a return on equity of 17.36%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, analysts expect that Ritchie Bros. Auctioneers will post $1.18 earnings per share for the current fiscal year.
In related news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the business’s stock in a transaction on 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 directly owns 6,600 shares of the company’s stock, valued at approximately $224,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of RBA. KCG Holdings Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the third quarter valued at approximately $435,000. Prudential Financial Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the third quarter valued at approximately $206,000. Paloma Partners Management Co acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter valued at approximately $565,000. Barclays PLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter valued at approximately $177,000. Finally, Waddell & Reed Financial Inc. boosted its stake in shares of Ritchie Bros. Auctioneers by 70.4% in the second quarter. Waddell & Reed Financial Inc. now owns 381,600 shares of the company’s stock valued at $12,890,000 after buying an additional 157,700 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.
RBA has been the subject of a number of research reports. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Bank of America Corp. raised shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 31st. Jefferies Group reissued a “hold” rating and issued a $32.00 price target on shares of Ritchie Bros. Auctioneers in a report on Thursday. Royal Bank Of Canada lifted their target price on shares of Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 31st. Finally, RBC Capital Markets reaffirmed an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, August 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.50.
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.
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