Ritchie Bros. Auctioneers (TSE:RBA) Downgraded by National Bank Financial to Underperform

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National Bank Financial cut shares of Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) from a sector perform rating to an underperform rating in a research note released on Tuesday, Briefing.com Automated Import reports.

RBA has been the topic of several other reports. Raymond James upgraded Ritchie Bros. Auctioneers from a market perform rating to an outperform rating and reduced their price target for the stock from C$41.00 to C$33.00 in a report on Tuesday, March 24th. Scotiabank upgraded Ritchie Bros. Auctioneers from a sector perform rating to a sector outperform rating in a report on Monday, March 2nd. William Blair restated an outperform rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, February 27th. Finally, Barrington Research upgraded Ritchie Bros. Auctioneers from a market perform rating to an outperform rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of C$33.00.

Shares of TSE:RBA traded down C$1.71 during midday trading on Tuesday, hitting C$53.94. The stock had a trading volume of 113,488 shares, compared to its average volume of 325,030. Ritchie Bros. Auctioneers has a 12 month low of C$37.76 and a 12 month high of C$62.06. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 99.54. The business’s 50-day simple moving average is C$58.71 and its 200-day simple moving average is C$55.62. The company has a market cap of $6.18 billion and a P/E ratio of 44.68.

Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) last posted its earnings results on Thursday, May 7th. The company reported C$0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.26 by C$0.02. The firm had revenue of C$366.83 million for the quarter, compared to analyst estimates of C$421.22 million. As a group, equities analysts predict that Ritchie Bros. Auctioneers will post 1.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be given a dividend of $0.279 per share. This represents a $1.12 annualized dividend and a yield of 2.07%. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, May 26th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 64.46%.

About Ritchie Bros. Auctioneers

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

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Analyst Recommendations for Ritchie Bros. Auctioneers (TSE:RBA)

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