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

RB Global (NYSE:RBA) (TSE:RBA) posted its quarterly 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. RB Global had a return on equity of 7.41% and a net margin of 9.06%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.82 earnings per share.

RB Global Stock Up 8.9 %

RBA stock traded up $8.57 during midday trading on Wednesday, reaching $105.13. 612,532 shares of the company were exchanged, compared to its average volume of 934,386. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global has a 1-year low of $65.99 and a 1-year high of $106.90. The stock’s 50-day simple moving average is $91.45 and its 200 day simple moving average is $87.87. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 56.91, a price-to-earnings-growth ratio of 4.01 and a beta of 0.96.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. 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 payout ratio is currently 63.04%.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price target 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. BMO Capital Markets increased their price target 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. Finally, CIBC reduced their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.64.

About RB Global

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.