Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Tuesday, August 8th, NASDAQ reports. Investors of record on Friday, August 25th will be given a dividend of 0.17 per share by the business services provider on Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 23rd.
Ritchie Bros. Auctioneers has increased its dividend payment by an average of 9.3% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Ritchie Bros. Auctioneers has a dividend payout ratio of 73.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ritchie Bros. Auctioneers to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 60.7%.
Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.59% during mid-day trading on Friday, reaching $28.42. 773,311 shares of the company were exchanged. The firm has a market capitalization of $3.04 billion, a P/E ratio of 61.52 and a beta of 0.55. Ritchie Bros. Auctioneers has a 1-year low of $26.68 and a 1-year high of $39.96. The stock has a 50-day moving average of $28.11 and a 200 day moving average of $30.65.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same period in the prior year, the company posted $0.37 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Ritchie Bros. Auctioneers will post $1.02 earnings per share for the current year.
A number of equities research analysts have recently weighed in on RBA shares. Raymond James Financial, Inc. lowered their price target on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a report on Tuesday, July 11th. TD Securities reiterated a “sell” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, May 9th. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. William Blair reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, April 24th. Finally, Scotiabank lowered their price target on Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.42.
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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