Today: The Ritchie Bros. Auctioneers Inc. (RBA) to Post Q3 2016 Earnings of $0.24 Per Share, Northcoast Research Forecasts

The Ritchie Bros. Auctioneers Inc. (RBA) to Post Q3 2016 Earnings of $0.24 Per Share, Northcoast Research Forecasts

Ritchie Bros. Auctioneers Inc. (NYSE:RBA) – Equities researchers at Northcoast Research raised their Q3 2016 earnings estimates for shares of Ritchie Bros. Auctioneers in a note issued to investors on Monday. Northcoast Research analyst J. Healy now anticipates that the brokerage will post earnings of $0.24 per share for the quarter, up from their prior estimate of $0.21. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ FY2016 earnings at $1.25 EPS and FY2017 earnings at $1.31 EPS.

Ritchie Bros. Auctioneers (NYSE:RBA) last released its earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.07. The firm earned $158.80 million during the quarter, compared to analysts’ expectations of $160.96 million. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS.

Other equities research analysts have also recently issued research reports about the company. Macquarie initiated coverage on Ritchie Bros. Auctioneers in a report on Thursday, August 25th. They issued an “outperform” rating and a $34.00 price target on the stock. Jefferies Group upped their target price on Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Wednesday, August 31st. RBC Capital Markets reaffirmed an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, August 30th. OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 22nd. Finally, TD Securities reaffirmed a “reduce” rating and issued a $26.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Saturday, August 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and a consensus price target of $32.55.

Ritchie Bros. Auctioneers (NYSE:RBA) traded up 0.20% during trading on Wednesday, hitting $35.32. The stock had a trading volume of 107,989 shares. Ritchie Bros. Auctioneers has a 12-month low of $21.03 and a 12-month high of $37.23. The stock’s 50 day moving average price is $32.68 and its 200 day moving average price is $31.53. The firm has a market cap of $3.77 billion, a P/E ratio of 27.66 and a beta of 0.48.

Hedge funds have recently added to or reduced their stakes in the company. Commerce Bank increased its stake in Ritchie Bros. Auctioneers by 0.5% in the second quarter. Commerce Bank now owns 20,131 shares of the company’s stock worth $680,000 after buying an additional 95 shares during the last quarter. FineMark National Bank & Trust increased its stake in Ritchie Bros. Auctioneers by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,158 shares of the company’s stock worth $141,000 after buying an additional 97 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Ritchie Bros. Auctioneers by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 18,427 shares of the company’s stock valued at $621,000 after buying an additional 227 shares in the last quarter. 1st Global Advisors Inc. increased its stake in shares of Ritchie Bros. Auctioneers by 6.7% in the second quarter. 1st Global Advisors Inc. now owns 9,025 shares of the company’s stock valued at $305,000 after buying an additional 570 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Ritchie Bros. Auctioneers by 0.8% in the first quarter. Loomis Sayles & Co. L P now owns 88,546 shares of the company’s stock valued at $2,398,000 after buying an additional 734 shares in the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $34.00, for a total transaction of $224,400.00. Following the completion of the sale, the vice president now directly owns 6,600 shares in the company, valued at approximately $224,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.67% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 53.97%.

Ritchie Bros. Auctioneers Company Profile

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