Ritchie Bros. Auctioneers (RBA) to Issue Quarterly Dividend of $0.17 on June 20th

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Thursday, May 10th, Zacks reports. Shareholders of record on Wednesday, May 30th will be paid a dividend of 0.17 per share by the business services provider on Wednesday, June 20th. This represents a $0.68 annualized dividend and a yield of 2.05%. The ex-dividend date is Tuesday, May 29th.

Ritchie Bros. Auctioneers has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 15 years. Ritchie Bros. Auctioneers has a payout ratio of 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Ritchie Bros. Auctioneers to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 53.5%.

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Shares of Ritchie Bros. Auctioneers opened at $33.20 on Thursday, according to MarketBeat.com. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 1.02. Ritchie Bros. Auctioneers has a 12 month low of $24.08 and a 12 month high of $35.17. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, May 10th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Ritchie Bros. Auctioneers had a net margin of 10.96% and a return on equity of 12.50%. The business had revenue of $169.80 million for the quarter, compared to analyst estimates of $153.56 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. equities research analysts forecast that Ritchie Bros. Auctioneers will post 1.06 earnings per share for the current year.

Several equities analysts recently issued reports on RBA shares. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. TheStreet upgraded shares of Ritchie Bros. Auctioneers from a “c” rating to a “b-” rating in a research note on Thursday, March 1st. Bank of America boosted their target price on shares of Ritchie Bros. Auctioneers from $21.50 to $30.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. National Bank Financial cut shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $37.00 to $35.00 in a research note on Thursday, April 19th. Finally, ValuEngine upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research note on Monday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.40.

About Ritchie Bros. Auctioneers

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. 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.