Ritchie Bros. Auctioneers Incorporated (RBA) to Post Q3 2017 Earnings of $0.17 Per Share, Barrington Research Forecasts
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Investment analysts at Barrington Research issued their Q3 2017 earnings per share estimates for Ritchie Bros. Auctioneers in a note issued to investors on Tuesday. Barrington Research analyst G. Prestopino anticipates that the business services provider will post earnings per share of $0.17 for the quarter. Barrington Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.88 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.32 EPS and FY2018 earnings at $1.21 EPS.
A number of other research analysts have also recently weighed in on the stock. Raymond James Financial, Inc. cut their price objective on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a report on Tuesday, July 11th. TD Securities reaffirmed a “sell” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, May 9th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, April 24th. Finally, Scotiabank cut their price objective on shares of Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.42.
Ritchie Bros. Auctioneers (NYSE RBA) opened at 28.59 on Thursday. The company has a 50-day moving average of $28.13 and a 200 day moving average of $30.67. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96. The company has a market cap of $3.06 billion, a P/E ratio of 61.88 and a beta of 0.55.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. Ritchie Bros. Auctioneers’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS.
Several hedge funds have recently made changes to their positions in RBA. Wellington Shields Capital Management LLC bought a new stake in shares of Ritchie Bros. Auctioneers during the first quarter valued at about $1,003,000. Wrapmanager Inc. acquired a new position in Ritchie Bros. Auctioneers during the first quarter worth $376,000. OLD National Bancorp IN raised its position in Ritchie Bros. Auctioneers by 68.4% in the first quarter. OLD National Bancorp IN now owns 16,265 shares of the business services provider’s stock worth $535,000 after buying an additional 6,609 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Ritchie Bros. Auctioneers by 19.8% in the first quarter. Great West Life Assurance Co. Can now owns 574,726 shares of the business services provider’s stock worth $18,817,000 after buying an additional 95,155 shares during the last quarter. Finally, Geneva Advisors LLC raised its position in Ritchie Bros. Auctioneers by 2.8% in the first quarter. Geneva Advisors LLC now owns 109,059 shares of the business services provider’s stock worth $3,588,000 after buying an additional 2,945 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.38%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 144.68%.
About Ritchie Bros. Auctioneers
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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