Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) – Equities researchers at Northcoast Research decreased their Q3 2021 earnings estimates for Ritchie Bros. Auctioneers in a research report issued to clients and investors on Thursday, May 13th. Northcoast Research analyst J. Healy now forecasts that the business services provider will earn $0.28 per share for the quarter, down from their previous forecast of $0.30. Northcoast Research also issued estimates for Ritchie Bros. Auctioneers’ Q4 2021 earnings at $0.58 EPS, FY2021 earnings at $1.77 EPS and FY2022 earnings at $1.88 EPS.
Several other analysts also recently issued reports on the stock. Raymond James upped their price objective on shares of Ritchie Bros. Auctioneers from $59.00 to $65.00 and gave the stock a “market perform” rating in a report on Wednesday. National Bankshares downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a report on Wednesday. TD Securities upped their price objective on shares of Ritchie Bros. Auctioneers from $57.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday. OTR Global reaffirmed a “mixed” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, April 27th. Finally, Bank of America downgraded shares of Ritchie Bros. Auctioneers from a “neutral” rating to an “underperform” rating and set a $55.00 price target for the company. in a report on Thursday, February 4th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus target price of $64.86.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Sunday, May 9th. The business services provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $331.56 million for the quarter, compared to analyst estimates of $294.73 million. Ritchie Bros. Auctioneers had a net margin of 13.03% and a return on equity of 19.76%. Ritchie Bros. Auctioneers’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS.
Several large investors have recently added to or reduced their stakes in RBA. Rowland Carmichael Advisors Inc. ADV bought a new position in shares of Ritchie Bros. Auctioneers during the 4th quarter worth about $240,000. Ritholtz Wealth Management increased its position in shares of Ritchie Bros. Auctioneers by 27.4% during the 4th quarter. Ritholtz Wealth Management now owns 12,241 shares of the business services provider’s stock worth $851,000 after purchasing an additional 2,634 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Ritchie Bros. Auctioneers by 27.0% during the 4th quarter. Park Avenue Securities LLC now owns 12,816 shares of the business services provider’s stock worth $891,000 after purchasing an additional 2,727 shares in the last quarter. Pendal Group Limited acquired a new stake in shares of Ritchie Bros. Auctioneers during the 4th quarter worth about $223,000. Finally, Riverbridge Partners LLC increased its position in shares of Ritchie Bros. Auctioneers by 5.5% during the 4th quarter. Riverbridge Partners LLC now owns 3,763,185 shares of the business services provider’s stock worth $261,730,000 after purchasing an additional 197,761 shares in the last quarter. 80.25% of the stock is owned by institutional investors.
In other news, insider Kieran Colquhoun Holm sold 6,778 shares of the firm’s stock in a transaction dated Thursday, March 4th. The shares were sold at an average price of $52.15, for a total transaction of $353,472.70. Following the completion of the transaction, the insider now directly owns 21,520 shares of the company’s stock, valued at approximately $1,122,268. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 500 shares of the firm’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $57.00, for a total transaction of $28,500.00. Following the transaction, the insider now directly owns 15,671 shares of the company’s stock, valued at $893,247. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,343 shares of company stock valued at $3,054,464. Insiders own 0.83% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 16th. Shareholders of record on Wednesday, May 26th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 25th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 48.12%.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.
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