FY2017 EPS Estimates for Ritchie Bros. Auctioneers Incorporated Cut by Barrington Research (RBA)
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Equities researchers at Barrington Research decreased their FY2017 earnings estimates for Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. Barrington Research analyst G. Prestopino now forecasts that the business services provider will earn $0.83 per share for the year, down from their previous forecast of $0.98. Barrington Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.98 EPS.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The company had revenue of $141.05 million during the quarter, compared to analysts’ expectations of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share.
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Several other brokerages have also recently issued reports on RBA. Scotiabank set a $34.00 target price on Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. National Bank Financial dropped their target price on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, August 9th. TD Securities dropped their target price on Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a report on Wednesday, August 9th. Finally, Robert W. Baird restated a “buy” rating and issued a $33.00 target price on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.20.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at $25.29 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $2,720.00, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. Ritchie Bros. Auctioneers has a twelve month low of $24.08 and a twelve month high of $39.96.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 111.48%.
In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $29.77 per share, with a total value of $40,933.75. Following the purchase, the chief financial officer now owns 1,000 shares in the company, valued at $29,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in Ritchie Bros. Auctioneers by 338.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after acquiring an additional 6,257 shares in the last quarter. Intact Investment Management Inc. lifted its stake in Ritchie Bros. Auctioneers by 59.0% during the 3rd quarter. Intact Investment Management Inc. now owns 67,080 shares of the business services provider’s stock worth $2,624,000 after acquiring an additional 24,900 shares in the last quarter. Marathon Asset Management LLP lifted its stake in Ritchie Bros. Auctioneers by 54.9% during 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 acquiring an additional 636,529 shares in the last quarter. FMR LLC lifted its stake in Ritchie Bros. Auctioneers by 280.3% during the 2nd quarter. FMR LLC now owns 341,000 shares of the business services provider’s stock worth $9,798,000 after acquiring an additional 251,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Ritchie Bros. Auctioneers by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after acquiring an additional 3,601 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
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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