National Bank Financial Weighs in on Ritchie Bros. Auctioneers Incorporated’s Q3 2017 Earnings (RBA)
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Analysts at National Bank Financial cut their Q3 2017 earnings estimates for Ritchie Bros. Auctioneers in a research report issued on Thursday. National Bank Financial analyst M. Sytchev now anticipates that the business services provider will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.18. National Bank Financial currently has a “Sector Perform” rating and a $30.00 target price on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ FY2017 earnings at $0.88 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS.
Several other research firms also recently issued reports on RBA. BidaskClub upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Scotiabank set a $34.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and set a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research note on Tuesday. TD Securities decreased their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.82.
Shares of Ritchie Bros. Auctioneers (RBA) opened at 30.29 on Monday. The firm’s 50-day moving average is $28.56 and its 200-day moving average is $30.32. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 65.56 and a beta of 0.57. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lloyds Banking Group plc lifted its position in shares of Ritchie Bros. Auctioneers by 59.1% during the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after purchasing an additional 1,656 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Ritchie Bros. Auctioneers during the first quarter worth $176,000. First Bank & Trust lifted its position in shares of Ritchie Bros. Auctioneers by 3.8% during the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after purchasing an additional 196 shares in the last quarter. Forward Management LLC lifted its position in shares of Ritchie Bros. Auctioneers by 11.0% during the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after purchasing an additional 609 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of Ritchie Bros. Auctioneers by 0.7% during the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after purchasing an additional 43 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $29.77 per share, with a total value of $40,933.75. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $29,770. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.
The company 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 dividend of $0.17 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.24%. Ritchie Bros. Auctioneers’s payout ratio is currently 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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