RB Global (NYSE:RBA) Releases Earnings Results, Misses Estimates By $0.23 EPS

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

RB Global Trading Up 8.9 %

RBA traded up $8.57 during midday trading on Wednesday, hitting $105.13. The company’s stock had a trading volume of 612,532 shares, compared to its average volume of 934,386. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The firm has a market cap of $19.42 billion, a P/E ratio of 56.91, a PEG ratio of 4.01 and a beta of 0.96. The firm has a 50-day moving average price of $91.45 and a two-hundred day moving average price of $87.87. RB Global has a 52-week low of $65.99 and a 52-week high of $106.90.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s payout ratio is 63.04%.

Analyst Upgrades and Downgrades

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