Ritchie Bros. Auctioneers Inc Forecasted to Earn Q4 2017 Earnings of $0.22 Per Share (RBA)
Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Equities researchers at KeyCorp boosted their Q4 2017 earnings estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Tuesday. KeyCorp analyst J. Box now expects that the business services provider will post earnings per share of $0.22 for the quarter, up from their previous forecast of $0.16. KeyCorp also issued estimates for Ritchie Bros. Auctioneers’ Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.32 EPS and FY2018 earnings at $0.97 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The business had revenue of $141.05 million for the quarter, compared to analyst estimates of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS.
RBA has been the topic of a number of other research reports. TD Securities boosted their price objective on shares of Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the stock a “reduce” rating in a report on Wednesday. Oppenheimer reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, November 13th. Raymond James Financial cut their price objective on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating on the stock in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $30.50 in a report on Monday, November 20th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.30.
Ritchie Bros. Auctioneers (RBA) opened at $32.10 on Friday. Ritchie Bros. Auctioneers has a 1-year low of $24.08 and a 1-year high of $35.21. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3,412.77, a price-to-earnings ratio of 37.90, a P/E/G ratio of 3.42 and a beta of 0.63.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intact Investment Management Inc. increased its position in shares of Ritchie Bros. Auctioneers by 59.0% in the 3rd quarter. Intact Investment Management Inc. now owns 67,080 shares of the business services provider’s stock worth $2,624,000 after purchasing an additional 24,900 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ritchie Bros. Auctioneers by 338.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after purchasing an additional 6,257 shares during the last quarter. Marathon Asset Management LLP increased its position in shares of Ritchie Bros. Auctioneers by 54.9% in the 3rd quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock worth $56,645,000 after purchasing an additional 636,529 shares during the last quarter. FMR LLC increased its position in shares of Ritchie Bros. Auctioneers by 280.3% in the 2nd quarter. FMR LLC now owns 341,000 shares of the business services provider’s stock worth $9,798,000 after purchasing an additional 251,323 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Ritchie Bros. Auctioneers in the 2nd quarter worth about $175,728,000. 96.61% of the stock is owned by institutional investors.
In other news, insider Karl William Werner sold 5,400 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $28.68, for a total value of $154,872.00. Following the completion of the sale, the insider now owns 5,400 shares of the company’s stock, valued at approximately $154,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Tuesday, November 28th. Ritchie Bros. Auctioneers’s payout ratio is currently 111.48%.
Ritchie Bros. Auctioneers Company Profile
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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