Northcoast Research Comments on Ritchie Bros. Auctioneers Inc’s FY2018 Earnings (RBA)
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) – Research analysts at Northcoast Research increased their FY2018 earnings per share estimates for shares of Ritchie Bros. Auctioneers in a report released on Wednesday. Northcoast Research analyst J. Healy now anticipates that the company will post earnings per share of $1.26 for the year, up from their prior forecast of $1.25.
RBA has been the subject of several other reports. National Bank Financial upgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$28.00 to C$39.00 in a research report on Monday, November 20th. Scotiabank restated an “outperform” rating and set a C$42.50 target price on shares of Ritchie Bros. Auctioneers in a research report on Friday, October 20th. TD Securities decreased their target price on Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating for the company in a research report on Tuesday, October 10th. Finally, Raymond James Financial decreased their target price on Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating for the company in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of C$38.33.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th were given a $0.219 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. Ritchie Bros. Auctioneers’s payout ratio is currently 89.47%.
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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