Ritchie Bros. Auctioneers Incorporated (RBA) To Go Ex-Dividend on May 26th

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) announced a quarterly dividend on Friday, May 6th, Zacks reports. Stockholders of record on Friday, May 27th will be paid a dividend of 0.25 per share by the business services provider on Friday, June 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 26th.

Ritchie Bros. Auctioneers has raised its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ritchie Bros. Auctioneers has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ritchie Bros. Auctioneers to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 55.6%.

Shares of NYSE RBA opened at $59.57 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.12 and a current ratio of 1.21. Ritchie Bros. Auctioneers has a fifty-two week low of $48.65 and a fifty-two week high of $76.18. The firm has a market capitalization of $6.59 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 5.07 and a beta of 1.12. The stock’s 50-day simple moving average is $57.71 and its 200-day simple moving average is $60.65.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last released its quarterly earnings results on Monday, May 9th. The business services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $0.17 by $1.43. The company had revenue of $393.92 million for the quarter, compared to analyst estimates of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Ritchie Bros. Auctioneers will post 1.71 earnings per share for the current fiscal year.

RBA has been the topic of several analyst reports. TD Securities lifted their target price on Ritchie Bros. Auctioneers from $55.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, May 12th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 11th. National Bankshares decreased their price target on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 22nd. Royal Bank of Canada lifted their price target on Ritchie Bros. Auctioneers from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, May 12th. Finally, Bank of America upgraded Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $61.00 in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.14.

In other news, CEO Ann Fandozzi purchased 9,560 shares of the stock in a transaction on Monday, February 28th. The stock was purchased at an average price of $52.25 per share, with a total value of $499,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC boosted its position in shares of Ritchie Bros. Auctioneers by 2.4% in the first quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock worth $618,000 after buying an additional 248 shares during the period. Prudential Financial Inc. boosted its holdings in Ritchie Bros. Auctioneers by 3.6% in the first quarter. Prudential Financial Inc. now owns 11,057 shares of the business services provider’s stock valued at $653,000 after purchasing an additional 381 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Ritchie Bros. Auctioneers by 5.9% in the fourth quarter. Alliancebernstein L.P. now owns 7,483 shares of the business services provider’s stock valued at $458,000 after purchasing an additional 417 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Ritchie Bros. Auctioneers by 2.0% in the first quarter. First Republic Investment Management Inc. now owns 24,865 shares of the business services provider’s stock valued at $1,468,000 after purchasing an additional 488 shares during the last quarter. Finally, Allstate Corp boosted its holdings in Ritchie Bros. Auctioneers by 6.7% in the fourth quarter. Allstate Corp now owns 12,893 shares of the business services provider’s stock valued at $789,000 after purchasing an additional 804 shares during the last quarter. 81.62% of the stock is owned by institutional investors.

About Ritchie Bros. Auctioneers (Get Rating)

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

Further Reading

Dividend History for Ritchie Bros. Auctioneers (NYSE:RBA)

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