Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Analysts at Barrington Research raised their FY2019 earnings per share (EPS) estimates for Ritchie Bros. Auctioneers in a research note issued to investors on Monday, August 12th. Barrington Research analyst G. Prestopino now forecasts that the business services provider will post earnings per share of $1.25 for the year, up from their prior estimate of $1.18. Barrington Research also issued estimates for Ritchie Bros. Auctioneers’ Q1 2020 earnings at $0.21 EPS and Q2 2020 earnings at $0.54 EPS.
A number of other analysts have also commented on RBA. National Bank Financial lifted their price target on Ritchie Bros. Auctioneers from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday. CIBC reissued a “hold” rating and set a $37.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, May 15th. Raymond James lifted their price target on Ritchie Bros. Auctioneers from $34.50 to $36.50 and gave the company a “market perform” rating in a research note on Monday. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday. Finally, OTR Global lowered Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and an average price target of $37.11.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. Ritchie Bros. Auctioneers had a return on equity of 15.31% and a net margin of 10.08%. The firm had revenue of $393.20 million for the quarter, compared to analyst estimates of $352.51 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 27.4% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.20 dividend. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, August 27th. Ritchie Bros. Auctioneers’s payout ratio is currently 66.67%.
Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 16.8% in the first quarter. Janney Montgomery Scott LLC now owns 7,414 shares of the business services provider’s stock worth $252,000 after acquiring an additional 1,067 shares during the period. Diversified Trust Co lifted its stake in shares of Ritchie Bros. Auctioneers by 9.9% in the second quarter. Diversified Trust Co now owns 18,840 shares of the business services provider’s stock worth $626,000 after acquiring an additional 1,690 shares during the period. Swiss National Bank lifted its stake in shares of Ritchie Bros. Auctioneers by 2.0% in the first quarter. Swiss National Bank now owns 199,300 shares of the business services provider’s stock worth $6,768,000 after acquiring an additional 3,900 shares during the period. CWM LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 22.2% in the first quarter. CWM LLC now owns 195,558 shares of the business services provider’s stock worth $6,649,000 after acquiring an additional 35,565 shares during the period. Finally, Manchester Capital Management LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the first quarter worth approximately $34,000. 89.96% of the stock is currently owned by institutional investors.
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 live on site 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, as well as construction and heavy machinery.
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