Northcoast Research Analysts Lower Earnings Estimates for Ritchie Bros. Auctioneers Inc (RBA)
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Northcoast Research lowered their FY2017 EPS estimates for shares of Ritchie Bros. Auctioneers in a report issued on Tuesday. Northcoast Research analyst J. Healy now anticipates that the company will post earnings per share of $1.20 for the year, down from their previous forecast of $1.24. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.31 EPS.
A number of other brokerages have also recently issued reports on RBA. National Bank Financial reaffirmed a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Scotiabank reaffirmed an “outperform” rating and issued a C$41.00 target price on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. CIBC cut Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$36.00 to C$28.00 in a report on Monday, July 10th. TD Securities lowered their target price on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating for the company in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. lowered their target price on Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating for the company in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of C$39.50.
Ritchie Bros. Auctioneers (TSE:RBA) opened at 37.19 on Thursday. The company has a 50-day moving average price of $37.15 and a 200 day moving average price of $39.27. The company has a market cap of $3.98 billion and a PE ratio of 81.02. Ritchie Bros. Auctioneers has a 12-month low of $34.03 and a 12-month high of $52.88.
In other Ritchie Bros. Auctioneers news, insider Sharon Driscoll bought 1,375 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average price of C$36.17 per share, for a total transaction of C$49,733.75.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.17 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.83%.
About Ritchie Bros. Auctioneers
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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