Ritchie Bros. Auctioneers Inc (RBA) Expected to Earn FY2018 Earnings of $1.05 Per Share
Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Stock analysts at National Bank Financial lifted their FY2018 earnings per share (EPS) estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. National Bank Financial analyst M. Sytchev now forecasts that the business services provider will post earnings of $1.05 per share for the year, up from their previous forecast of $1.02. National Bank Financial has a “Outperform” rating and a $37.00 price target on the stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ FY2019 earnings at $1.42 EPS.
Several other analysts have also recently weighed in on RBA. Oppenheimer reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, November 13th. Raymond James Financial cut their price objective on Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating on the stock in a research report on Monday, November 13th. TD Securities cut their price objective on Ritchie Bros. Auctioneers from $23.00 to $22.00 and set a “reduce” rating on the stock in a research report on Monday, November 13th. Bank of America cut their price objective on Ritchie Bros. Auctioneers from $22.50 to $21.50 and set an “underperform” rating on the stock in a research report on Thursday, November 16th. Finally, Scotiabank lifted their price objective on Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and an average target price of $32.80.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Monday, February 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The business had revenue of $178.80 million for the quarter, compared to analysts’ expectations of $171.97 million. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. Elkfork Partners LLC bought a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $8,899,000. Grandeur Peak Global Advisors LLC raised its holdings in Ritchie Bros. Auctioneers by 30.4% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 857,300 shares of the business services provider’s stock worth $25,659,000 after acquiring an additional 200,025 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Ritchie Bros. Auctioneers by 25.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 139,992 shares of the business services provider’s stock worth $4,190,000 after acquiring an additional 28,786 shares during the last quarter. Jane Street Group LLC purchased a new position in Ritchie Bros. Auctioneers in the 4th quarter worth approximately $323,000. Finally, LPL Financial LLC raised its holdings in Ritchie Bros. Auctioneers by 38.3% in the 4th quarter. LPL Financial LLC now owns 10,885 shares of the business services provider’s stock worth $326,000 after acquiring an additional 3,017 shares during the last quarter.
In other news, insider Karl William Werner sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $28.68, for a total value of $154,872.00. Following the sale, the insider now directly owns 5,400 shares of the company’s stock, valued at approximately $154,872. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 16th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.09%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 113.33%.
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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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