Q4 2016 EPS Estimates for Ritchie Bros. Auctioneers Inc. Reduced by Northcoast Research (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Equities research analysts at Northcoast Research cut their Q4 2016 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a report released on Friday. Northcoast Research analyst J. Healy now anticipates that the firm will earn $0.33 per share for the quarter, down from their prior forecast of $0.35.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.01. Ritchie Bros. Auctioneers had a net margin of 19.91% and a return on equity of 17.40%. The company had revenue of $128.90 million for the quarter, compared to analysts’ expectations of $121.06 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 17.9% compared to the same quarter last year.
RBA has been the subject of a number of other reports. KeyCorp raised shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research note on Monday, August 15th. They noted that the move was a valuation call. BMO Capital Markets reissued a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Thursday, September 1st. 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. Jefferies Group lifted their price objective 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. Finally, Robert W. Baird reissued an “outperform” rating and issued a $39.00 price objective (up from $34.00) on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and an average price target of $36.54.
Ritchie Bros. Auctioneers (NYSE:RBA) opened at 37.29 on Monday. The company’s 50 day moving average is $35.10 and its 200 day moving average is $32.99. The stock has a market cap of $3.98 billion, a PE ratio of 29.20 and a beta of 0.62. Ritchie Bros. Auctioneers has a 12 month low of $21.03 and a 12 month high of $37.74.
Several large investors have recently bought and sold shares of RBA. AGF Investments Inc. raised its stake in 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Ritchie Bros. Auctioneers by 2,145.5% in the third quarter. Tower Research Capital LLC TRC now owns 3,458 shares of the company’s stock valued at $121,000 after buying an additional 3,304 shares in the last quarter. FineMark National Bank & Trust raised its stake in 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 in the last quarter. Barclays PLC acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at approximately $177,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 93.17% of the company’s stock.
In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the business’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 completion of the sale, the vice president now owns 6,600 shares in the company, valued at approximately $224,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.82%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 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.
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