RB Global (NYSE:RBA) Issues Quarterly Earnings Results

RB Global (NYSE:RBA) (TSE:RBA) announced its quarterly earnings results on Tuesday. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23), Zacks reports. RB Global had a net margin of 9.06% and a return on equity of 7.41%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $0.82 EPS.

RB Global Trading Up 8.8 %

RB Global stock traded up $8.45 during trading hours on Wednesday, reaching $105.01. The company had a trading volume of 466,105 shares, compared to its average volume of 923,409. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global has a 12-month low of $65.99 and a 12-month high of $106.90. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 57.03, a P/E/G ratio of 4.01 and a beta of 0.96. The company has a 50-day moving average price of $91.45 and a 200 day moving average price of $87.87.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. CIBC cut their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada upped their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $101.64.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.