Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01, MarketWatch Earnings reports. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business had revenue of $166.20 million during the quarter, compared to analyst estimates of $161.85 million. During the same quarter in the previous year, the business earned $0.37 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 4.7% compared to the same quarter last year.
Shares of Ritchie Bros. Auctioneers (RBA) opened at 28.42 on Friday. The company has a market capitalization of $3.04 billion, a PE ratio of 61.52 and a beta of 0.55. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96. The firm’s 50-day moving average is $28.11 and its 200 day moving average is $30.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 2.39%. Ritchie Bros. Auctioneers’s dividend payout ratio is 144.68%.
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A number of research analysts have weighed in on RBA shares. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Scotiabank boosted their target price on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. National Bank Financial cut 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 research report on Wednesday, August 9th. TD Securities cut 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 research report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.42.
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.
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