Rocky Mountain Dealerships (TSE:RME) Price Target Lowered to C$9.00 at CIBC

Rocky Mountain Dealerships (TSE:RME) had its target price decreased by CIBC from C$10.00 to C$9.00 in a report released on Tuesday morning, BayStreet.CA reports.

RME has been the subject of several other reports. Royal Bank of Canada set a $42.00 price objective on Devon Energy and gave the stock a hold rating in a research note on Thursday, May 2nd. Raymond James set a $60.00 price objective on Banner and gave the stock a buy rating in a research note on Friday, May 3rd. Finally, National Bank Financial dropped their target price on Rocky Mountain Dealerships from C$10.00 to C$8.00 in a report on Tuesday, July 2nd.

Shares of TSE:RME opened at C$7.35 on Tuesday. Rocky Mountain Dealerships has a 52-week low of C$7.35 and a 52-week high of C$12.25. The stock has a market capitalization of $144.43 million and a PE ratio of 9.05. The company has a debt-to-equity ratio of 266.25, a quick ratio of 0.09 and a current ratio of 1.29. The business has a 50-day moving average price of C$8.02.

Rocky Mountain Dealerships (TSE:RME) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.10). The firm had revenue of C$177.68 million during the quarter, compared to analysts’ expectations of C$232.67 million. Research analysts expect that Rocky Mountain Dealerships will post 1.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.123 per share. This represents a $0.49 annualized dividend and a yield of 6.69%. The ex-dividend date was Thursday, June 13th. Rocky Mountain Dealerships’s dividend payout ratio (DPR) is 59.42%.

About Rocky Mountain Dealerships

Rocky Mountain Dealerships Inc, through its subsidiaries, sells, rents, leases, and provides support services for new and used agriculture and industrial equipment primarily in Canada and the United States. The company primarily provides utility tractors, harvesters, sprayers, articulated 4 wheel-drive tractors, skid steer loaders, excavators, wheel loaders, graders, and equipment for maintaining barns and feedlots.

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