Analysts Set Expectations for Ritchie Bros. Auctioneers Inc.’s FY2016 Earnings (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) (TSE:RBA) – Stock analysts at Jefferies Group raised their FY2016 earnings estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Wednesday. Jefferies Group analyst S. Volkmann now forecasts that the brokerage will post earnings of $1.10 per share for the year, up from their prior estimate of $1.06. Jefferies Group has a “Hold” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Ritchie Bros. Auctioneers’ Q4 2016 earnings at $0.25 EPS and FY2017 earnings at $1.25 EPS.
Several other brokerages have also commented on RBA. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday. RBC Capital Markets restated an “outperform” rating and issued a $59.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Friday, November 11th. BMO Capital Markets restated a “hold” rating and issued a $38.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Friday, November 11th. TD Securities restated a “reduce” rating and issued a $26.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Wednesday, August 31st. Finally, Royal Bank Of Canada raised their price objective 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.63.
Ritchie Bros. Auctioneers (NYSE:RBA) opened at 37.10 on Friday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 35.85 and a beta of 0.62. The stock has a 50 day moving average price of $35.10 and a 200 day moving average price of $32.99. Ritchie Bros. Auctioneers has a 12-month low of $21.03 and a 12-month high of $37.74.
Ritchie Bros. Auctioneers (NYSE:RBA) last released its 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. The business earned $128.90 million during the quarter, compared to the consensus estimate of $121.06 million. Ritchie Bros. Auctioneers had a net margin of 19.91% and a return on equity of 17.38%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share.
A number of large investors have recently made changes to their positions in the stock. Rothschild Asset Management Inc. raised its stake in shares of Ritchie Bros. Auctioneers by 614.9% in the second quarter. Rothschild Asset Management Inc. now owns 42,982 shares of the company’s stock worth $1,877,000 after buying an additional 36,970 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $225,000. AGF Investments Inc. increased its stake in shares of Ritchie Bros. Auctioneers by 121.1% in the second quarter. AGF Investments Inc. now owns 2,947 shares of the company’s stock worth $100,000 after buying an additional 1,614 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Ritchie Bros. Auctioneers by 7.8% in the second quarter. Ngam Advisors L.P. now owns 14,204 shares of the company’s stock worth $480,000 after buying an additional 1,025 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $12,934,000. Institutional investors and hedge funds own 93.17% of the company’s stock.
In other Ritchie Bros. Auctioneers 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 transaction of $224,400.00. Following the completion of the sale, the vice president now directly 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 available through this link. Company insiders own 0.67% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.83%. Ritchie Bros. Auctioneers’s dividend payout ratio 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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