Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Thursday, November 8th, NASDAQ reports. Stockholders of record on Wednesday, November 28th will be given a dividend of 0.18 per share by the business services provider on Wednesday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, November 27th.

Ritchie Bros. Auctioneers has increased its dividend by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 15 years. Ritchie Bros. Auctioneers has a payout ratio of 65.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ritchie Bros. Auctioneers to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 54.1%.

Ritchie Bros. Auctioneers stock opened at $34.34 on Thursday. Ritchie Bros. Auctioneers has a 1-year low of $25.50 and a 1-year high of $38.77. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.28 and a quick ratio of 1.12. The company has a market capitalization of $3.72 billion, a PE ratio of 42.40, a PEG ratio of 2.39 and a beta of 0.78.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 8th. The business services provider reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 14.15%. The business had revenue of $159.30 million during the quarter, compared to analysts’ expectations of $163.59 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Ritchie Bros. Auctioneers will post 1.1 earnings per share for the current fiscal year.

Several research firms have recently weighed in on RBA. Royal Bank of Canada increased their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Monday, August 13th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, August 29th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, August 13th. TD Securities increased their price objective on shares of Ritchie Bros. Auctioneers from $26.00 to $28.00 and gave the stock a “reduce” rating in a research report on Monday, August 13th. Finally, Raymond James increased their price objective on shares of Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.00.

An institutional investor recently raised its position in Ritchie Bros. Auctioneers stock. Bank of New York Mellon Corp boosted its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 23.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,848 shares of the business services provider’s stock after buying an additional 7,072 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ritchie Bros. Auctioneers were worth $1,291,000 as of its most recent SEC filing. Institutional investors and hedge funds own 91.65% of the company’s stock.

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Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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Dividend History for Ritchie Bros. Auctioneers (NYSE:RBA)

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