Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) – Analysts at Northcoast Research boosted their Q3 2019 EPS estimates for shares of Ritchie Bros. Auctioneers in a research note issued on Monday, August 12th. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.20. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2019 earnings at $0.34 EPS, FY2019 earnings at $1.25 EPS and FY2020 earnings at $1.47 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $393.20 million for the quarter, compared to analyst estimates of $352.51 million. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.31%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS.
Several other analysts have also issued reports on the stock. National Bank Financial raised their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday. Bank of America raised their price target on shares of Ritchie Bros. Auctioneers from $32.00 to $33.50 and gave the stock an “underperform” rating in a research report on Friday, August 9th. CIBC restated a “hold” rating and issued a $37.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, May 15th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday. Finally, TD Securities lifted their target price on shares of Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the company a “reduce” rating in a research report on Monday. Two equities 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 company. The company currently has an average rating of “Hold” and an average target price of $37.11.
NYSE RBA opened at $38.33 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 4.53 and a beta of 0.74. The company’s fifty day moving average is $35.23 and its two-hundred day moving average is $34.85. Ritchie Bros. Auctioneers has a 52-week low of $30.76 and a 52-week high of $38.77.
Institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at about $34,000. Beutel Goodman & Co Ltd. acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at about $41,000. Brand Asset Management Group Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at about $54,000. Bremer Bank National Association acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at about $61,000. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 89.96% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.20 per share. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend 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 66.67%.
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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