Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Equities research analysts at Northcoast Research lowered their FY2017 earnings estimates for shares of Ritchie Bros. Auctioneers in a research report issued to clients and investors on Tuesday. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings of $0.96 per share for the year, down from their prior forecast of $0.98.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. Ritchie Bros. Auctioneers’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share.

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Several other research analysts have also recently issued reports on RBA. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Royal Bank Of Canada set a $40.00 target price on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Wednesday, August 9th. National Bank Financial lowered their target price on shares of 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. Scotiabank upped their target price on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, TD Securities lowered their target price on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Ritchie Bros. Auctioneers has an average rating of “Hold” and an average target price of $31.90.

Shares of Ritchie Bros. Auctioneers (RBA) opened at 30.01 on Thursday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 64.96 and a beta of 0.57. The firm has a 50-day moving average of $29.91 and a 200 day moving average of $30.16. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.

In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $29.77 per share, for a total transaction of $40,933.75. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $29,770. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in shares of Ritchie Bros. Auctioneers in the 2nd quarter worth $175,728,000. Riverbridge Partners LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 18.4% in the 2nd quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock worth $104,618,000 after acquiring an additional 565,290 shares during the period. CGOV Asset Management lifted its stake in shares of Ritchie Bros. Auctioneers by 18.6% in the 1st quarter. CGOV Asset Management now owns 3,298,901 shares of the business services provider’s stock worth $144,392,000 after acquiring an additional 518,440 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 87.9% in the 1st quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after acquiring an additional 1,341,355 shares during the period. Finally, Mondrian Investment Partners LTD lifted its stake in shares of Ritchie Bros. Auctioneers by 25.3% in the 2nd quarter. Mondrian Investment Partners LTD now owns 2,769,446 shares of the business services provider’s stock worth $103,190,000 after acquiring an additional 559,556 shares during the period. Institutional investors own 96.01% of the company’s stock.

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.

Earnings History and Estimates for Ritchie Bros. Auctioneers (NYSE:RBA)

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