Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Equities researchers at Raymond James lowered their Q3 2019 earnings estimates for shares of Ritchie Bros. Auctioneers in a report issued on Monday, August 12th. Raymond James analyst B. Cherniavsky now forecasts that the business services provider will earn $0.18 per share for the quarter, down from their prior forecast of $0.19. Raymond James has a “Market Perform” rating and a $36.50 price objective on the stock. Raymond James also issued estimates for Ritchie Bros. Auctioneers’ Q4 2019 earnings at $0.37 EPS and FY2019 earnings at $1.20 EPS.
Several other analysts have also recently weighed in on the company. OTR Global cut Ritchie Bros. Auctioneers to a “positive” rating in a report on Friday, July 26th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday. Royal Bank of Canada boosted their price objective on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Monday. CIBC reissued a “hold” rating and set a $37.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 15th. Finally, TD Securities boosted their price objective on Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the stock a “reduce” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Ritchie Bros. Auctioneers presently 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 data on Thursday, August 8th. The business services provider reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The firm had revenue of $393.20 million during the quarter, compared to analysts’ expectations of $352.51 million. Ritchie Bros. Auctioneers had a return on equity of 15.31% and a net margin of 10.08%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS.
Several hedge funds have recently made changes to their positions in RBA. Baillie Gifford & Co. boosted its stake in Ritchie Bros. Auctioneers by 0.5% in the second quarter. Baillie Gifford & Co. now owns 10,975,914 shares of the business services provider’s stock valued at $364,827,000 after buying an additional 59,501 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Ritchie Bros. Auctioneers by 6.4% in the second quarter. Eagle Asset Management Inc. now owns 3,643,453 shares of the business services provider’s stock valued at $121,025,000 after buying an additional 218,387 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Ritchie Bros. Auctioneers by 2.1% in the first quarter. William Blair Investment Management LLC now owns 3,558,623 shares of the business services provider’s stock valued at $120,993,000 after buying an additional 73,089 shares in the last quarter. Fiera Capital Corp raised its position in Ritchie Bros. Auctioneers by 23.5% in the second quarter. Fiera Capital Corp now owns 2,984,675 shares of the business services provider’s stock valued at $99,276,000 after purchasing an additional 568,680 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Ritchie Bros. Auctioneers by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,926,825 shares of the business services provider’s stock valued at $97,230,000 after purchasing an additional 87,513 shares during the last quarter. 89.96% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 27th. This is a boost 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%. Ritchie Bros. Auctioneers’s dividend payout ratio is 66.67%.
About Ritchie Bros. Auctioneers
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.
See Also: Return on Equity (ROE)
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