Research Analysts Issue Forecasts for Ritchie Bros. Auctioneers Inc’s Q3 2018 Earnings (RBA)
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Equities researchers at KeyCorp dropped their Q3 2018 earnings estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Tuesday. KeyCorp analyst J. Box now anticipates that the company will post earnings of $0.21 per share for the quarter, down from their prior estimate of $0.22.
RBA has been the subject of a number of other reports. TD Securities decreased their price target on Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating for the company in a report on Tuesday, October 10th. Scotiabank reaffirmed an “outperform” rating and set a C$42.50 price target on shares of Ritchie Bros. Auctioneers in a report on Friday, October 20th. Raymond James Financial cut their target price on Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 10th. Finally, National Bank Financial upgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$28.00 to C$39.00 in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$38.33.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.219 per share. The ex-dividend date was Tuesday, November 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. Ritchie Bros. Auctioneers’s payout ratio is 88.31%.
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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