Brokers Issue Forecasts for Ritchie Bros. Auctioneers Inc.’s FY2016 Earnings (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) (TSE:RBA) – Analysts at Oppenheimer Holdings lifted their FY2016 earnings per share (EPS) estimates for Ritchie Bros. Auctioneers in a note issued to investors on Tuesday. Oppenheimer Holdings analyst S. Schneeberger now expects that the brokerage will earn $1.25 per share for the year, up from their previous estimate of $1.14. Oppenheimer Holdings also issued estimates for Ritchie Bros. Auctioneers’ Q4 2016 earnings at $0.32 EPS and FY2017 earnings at $1.32 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.20 EPS for the quarter, missing the Zacks’ 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 firm earned $128.90 million during the quarter, compared to analysts’ expectations of $121.06 million. During the same period in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis.
A number of other equities research analysts also recently issued reports on RBA. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. OTR Global restated a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. Jefferies Group lowered their target price on shares of Ritchie Bros. Auctioneers from $35.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. TD Securities restated a “reduce” rating and issued a $26.00 target price on shares of Ritchie Bros. Auctioneers in a report on Saturday, August 13th. Finally, KeyCorp upgraded shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 target price for the company in a report on Monday, August 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.63.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.30% during midday trading on Friday, hitting $36.88. 88,548 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $35.41 and its 200-day moving average is $33.23. Ritchie Bros. Auctioneers has a 1-year low of $21.03 and a 1-year high of $37.74. The stock has a market cap of $3.93 billion, a PE ratio of 28.88 and a beta of 0.62.
A number of hedge funds have recently added to or reduced their stakes in RBA. Rothschild Asset Management Inc. raised its stake in Ritchie Bros. Auctioneers by 614.9% in the second quarter. Rothschild Asset Management Inc. now owns 42,982 shares of the company’s stock valued at $1,877,000 after buying an additional 36,970 shares during the last quarter. World Asset Management Inc acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at $225,000. 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 during the last quarter. Ngam Advisors L.P. raised its stake in Ritchie Bros. Auctioneers by 7.8% in the second quarter. Ngam Advisors L.P. now owns 14,204 shares of the company’s stock valued at $480,000 after buying an additional 1,025 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at $12,934,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.
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 in the company, valued at $224,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.84%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 66.67%.
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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