Brokers Issue Forecasts for Ritchie Bros. Auctioneers Incorporated’s Q3 2017 Earnings (RBA)
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Analysts at Northcoast Research decreased their Q3 2017 earnings per share estimates for Ritchie Bros. Auctioneers in a report issued on Tuesday. Northcoast Research analyst J. Healy now forecasts that the business services provider will earn $0.15 per share for the quarter, down from their previous forecast of $0.18.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share.
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Several other equities analysts also recently commented on the stock. Robert W. Baird reiterated a “buy” rating and set a $33.00 price target on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. National Bank Financial cut their price target on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 9th. Finally, TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.90.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 29.94 on Wednesday. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 64.81 and a beta of 0.57. The stock’s 50 day moving average is $29.95 and its 200-day moving average is $30.16.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.
In related news, CFO Sharon Ruth Driscoll bought 1,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were acquired at an average cost of $28.59 per share, for a total transaction of $28,590.00. Following the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $28,590. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of RBA. Comerica Bank grew its stake in Ritchie Bros. Auctioneers by 0.7% in the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after acquiring an additional 44 shares in the last quarter. World Asset Management Inc grew its stake in Ritchie Bros. Auctioneers by 0.7% in the 1st quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after acquiring an additional 43 shares in the last quarter. Sei Investments Co. grew its stake in Ritchie Bros. Auctioneers by 5,660.4% in the 1st quarter. Sei Investments Co. now owns 32,604 shares of the business services provider’s stock worth $1,073,000 after acquiring an additional 32,038 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Ritchie Bros. Auctioneers by 16.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 53,066 shares of the business services provider’s stock worth $1,746,000 after acquiring an additional 7,406 shares in the last quarter. Finally, Cipher Capital LP bought a new position in Ritchie Bros. Auctioneers in the 1st quarter worth about $260,000. Institutional investors and hedge funds own 96.01% of the company’s stock.
Ritchie Bros. Auctioneers Company Profile
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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