Scotiabank began coverage on shares of Ritchie Bros. Auctioneers (NYSE:RBA) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm issued an outperform rating on the stock.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.22% during mid-day trading on Thursday, hitting $22.94. The stock had a trading volume of 290,141 shares. Ritchie Bros. Auctioneers has a 52 week low of $18.08 and a 52 week high of $23.89. The stock’s 50-day moving average is $22.94 and its 200-day moving average is $20.40. The company has a market cap of $2.451 billion and a price-to-earnings ratio of 29.86.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $105.80 million for the quarter, compared to the consensus estimate of $93.40 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts expect that Ritchie Bros. Auctioneers will post $0.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of 0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Wednesday, February 12th.
RBA has been the subject of a number of other recent research reports. Analysts at Cantor Fitzgerald downgraded shares of Ritchie Bros. Auctioneers from a hold rating to a sell rating in a research note to investors on Wednesday, January 15th. Analysts at Credit Suisse downgraded shares of Ritchie Bros. Auctioneers from a neutral rating to an underperform rating in a research note to investors on Thursday, November 7th. They now have a $17.00 price target on the stock, down previously from $18.00. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $20.28.
Ritchie Bros. Auctioneers Incorporated and its subsidiaries sells industrial equipment and other assets for the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries at its unreserved auctions worldwide.
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