Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Stock analysts at Raymond James Financial increased their FY2016 earnings estimates for Ritchie Bros. Auctioneers in a research note issued on Wednesday. Raymond James Financial analyst B. Cherniavsky now forecasts that the brokerage will earn $1.22 per share for the year, up from their previous estimate of $1.18. Raymond James Financial also issued estimates for Ritchie Bros. Auctioneers’ Q4 2016 earnings at $0.33 EPS and FY2017 earnings at $1.56 EPS.

A number of other research firms have also recently commented on RBA. RBC Capital Markets reissued an “outperform” rating and issued a $59.00 target price on shares of Ritchie Bros. Auctioneers in a report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $38.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Friday. TD Securities reiterated a “reduce” rating and issued a $26.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Wednesday, August 31st. Royal Bank Of Canada raised their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, August 31st. Finally, Jefferies Group raised their price objective on shares of Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.54.

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

Ritchie Bros. Auctioneers (NYSE:RBA) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Ritchie Bros. Auctioneers had a net margin of 19.91% and a return on equity of 17.36%. The company earned $128.90 million during the quarter, compared to analyst estimates of $121.06 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Ritchie Bros. Auctioneers’s revenue for the quarter was up 17.9% on a year-over-year basis.

A number of hedge funds have recently bought and sold shares of RBA. Aberdeen Asset Management PLC UK acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at about $12,934,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Ritchie Bros. Auctioneers by 8.3% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 637,000 shares of the company’s stock valued at $27,811,000 after buying an additional 48,790 shares during the period. Diversified Trust Co bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at $223,000. Envestnet Asset Management Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 207,153 shares of the company’s stock valued at $5,610,000 after buying an additional 10,310 shares during the period. Finally, AJO LP bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at $479,000. 86.07% of the stock is owned by institutional investors and hedge funds.

In related news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers 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 completion of the sale, the vice president now owns 6,600 shares of the company’s stock, valued at approximately $224,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, November 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 66.67%.

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.

5 Day Chart for NYSE:RBA

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