Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) declared a quarterly dividend on Wednesday, May 8th, NASDAQ reports. Stockholders of record on Wednesday, May 29th will be given a dividend of 0.18 per share by the business services provider on Wednesday, June 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, May 28th.

Ritchie Bros. Auctioneers has increased its dividend by an average of 5.3% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Ritchie Bros. Auctioneers has a payout ratio of 65.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ritchie Bros. Auctioneers to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 48.0%.

Shares of RBA stock opened at $33.70 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Ritchie Bros. Auctioneers has a 52-week low of $30.76 and a 52-week high of $38.77. The firm has a market capitalization of $3.67 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 3.82 and a beta of 0.79.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. The business had revenue of $303.40 million during the quarter, compared to analysts’ expectations of $268.69 million. During the same quarter last year, the business posted $0.16 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts predict that Ritchie Bros. Auctioneers will post 1.26 EPS for the current year.

A number of equities research analysts recently issued reports on RBA shares. Bank of America set a $35.00 price objective on Ritchie Bros. Auctioneers and gave the stock a “sell” rating in a research report on Friday, March 1st. Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, March 7th. OTR Global upgraded Ritchie Bros. Auctioneers to a “positive” rating in a research report on Monday, February 4th. Royal Bank of Canada lowered their price objective on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Finally, Raymond James reiterated a “market perform” rating and issued a $38.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Monday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $36.28.

A hedge fund recently raised its stake in Ritchie Bros. Auctioneers stock. Geode Capital Management LLC raised its position in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 54.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,419 shares of the business services provider’s stock after purchasing an additional 3,673 shares during the period. Geode Capital Management LLC’s holdings in Ritchie Bros. Auctioneers were worth $340,000 at the end of the most recent reporting period. 87.72% of the stock is owned by hedge funds and other institutional investors.

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About Ritchie Bros. Auctioneers

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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Dividend History for Ritchie Bros. Auctioneers (NYSE:RBA)

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