Rocky Mountain Dealerships (TSE:RME) released its quarterly earnings data on Wednesday. The company reported C$0.29 EPS for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.10), Morningstar.com reports. The business had revenue of C$233.37 million for the quarter, compared to analysts’ expectations of C$268.10 million.
Shares of RME traded down C$0.16 during midday trading on Thursday, hitting C$9.31. 17,564 shares of the stock traded hands, compared to its average volume of 37,101. Rocky Mountain Dealerships has a 1-year low of C$9.10 and a 1-year high of C$14.34.
A number of equities analysts have commented on the stock. National Bank Financial downgraded shares of Rocky Mountain Dealerships from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$16.00 to C$13.00 in a report on Thursday, August 9th. Laurentian set a C$14.00 price target on shares of Rocky Mountain Dealerships in a report on Thursday, August 9th. TD Securities reduced their price target on shares of Rocky Mountain Dealerships from C$16.00 to C$15.00 and set a “buy” rating for the company in a report on Monday, August 13th. Royal Bank of Canada reissued a “sector perform” rating and set a C$11.00 price target on shares of Rocky Mountain Dealerships in a report on Monday, October 29th. Finally, Raymond James reduced their price target on shares of Rocky Mountain Dealerships from C$14.50 to C$12.00 and set an “outperform” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rocky Mountain Dealerships currently has a consensus rating of “Hold” and a consensus price target of C$12.75.
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Rocky Mountain Dealerships Inc, through its subsidiaries, sells, leases, and provides support services for new and used agriculture and industrial equipment primarily in Canada and the United States. The company primarily provides utility tractors, harvesters, sprayers, articulated 4WD tractors, skid steer loaders, excavators, wheel loaders, and equipment for maintaining barns and feedlots.
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